Rent growth has a larger impact on long term cash flow then initial cash flow.I am confident that on a 10 year hold, the higher cost market BRRRR in most markets will out perform the lower cost market BRRRR. 

Quote from @Jaycee Greene: I am currently saving so the lower the better just for my time being Quote from @Ella Marie: Hello I'm new here and I am more than excited to get started in the real estate business.

If your rental rate is below the market anyway, a Tenant might consider this to be win as they would get the lower rate in the beginning and just rise to the level they were looking at everywhere else.Step clauses can be written right into the lease, or created by using 3 month lease terms with an auto-renewal at the step up rental rate price. 

Fun fact: cash flow is taxable, while equity appreciation is not.

It also did not have a pool like your property so that would probably lower the desirability as well.

The risk is far lower, with a better ROI.OR you can consider learning about government contracts and performing lease matching. 

My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

Potentially lower down needed of 15% with better rate and 6% cap in IPC’s

And talking with my leasing team, the properties that are moving quicker are on the lower end of the rental range $1450-1600.

The price points do make it hard to cash flow even with the lower interest rate subject tos.