As inflation drives rent growth, properties in stable markets like the Midwest can continue to deliver returns even in higher-rate environments.Market Conditions Favor Real Estate RecoveryThe commercial real estate (CRE) market has faced significant challenges in recent years, but signs point to a recovery:Bottom of the Market Cycle: CRE appears to have reached its low point in late 2024, with 2025 marking the start of a slow recovery phase.Limited New Supply: High interest rates have curtailed new construction, which should drive rent growth in the coming years.Policy Changes on the Horizon: There is growing discussion about potential policy shifts under the new administration, including a return of 100% bonus depreciation and lower interest rates.

That's true regardless of whether you have REP status. 

Curious, what’s been the biggest challenge for you in trying to BRRRR a 10-30 unit property?

Purchase price: $145,000 Cash invested: $60,000 Finding a move-in-ready home that offers modern upgrades and country charm can be challenging—but this fully renovated 4-5 bedroom, 2-bathroom ranch is the perfect solution.

This speaks volumes about the challenges Buyers are facing when it comes to saving enough cash to purchase a home.It’s a reminder that understanding what Buyers need most is key to creating deals that work for everyone.

But southeast and midwest cities (not including Chicago or Miami or most of Florida) are your best bet I agree BRRRR are more challenging than prior to Q2 2022, but I do not agree with your premise as to what market is best. 

If it’s too good to be true then it is.

Challenges?

The challenges experienced in the cases mentioned above and elsewhere would be non-existent.

Both will do very well for years to come.That might be true but that doesn't mean they're moving to Cleveland or Detroit.