If you are shopping based on rates and fees, these answers should provide you the detail needed to make an informed decision.  

When do interest rates change? 

Usually, a Sub-To deal has a better rate than the market rate and so does seller financing.

@Matt Smith generally speaking it’s a combination of rising interest rates which have caused cap rates to increase (thus wiping out equity), debt is resetting at higher rates, rising opex costs due to inflation and stagnant or softening of rents due to an increase of supply.

I am going to wait until rates drop a decent amount and sell my former primary, which is now a rental, at a premium.

We would have to come oop about 400-450 for 2nd HH.Also planing to use other rest of heloc for a dscr or brrr so that would possibly help as well.Would you wait until rates drop to do another HH and just buy the brrr/dscr now?

Also, with current interest rates, the BRRRR strategy is almost impossible because even with lower average property values, the rents are also low and the ratio prevents the ability to refinance all of your capital out and still cash flow.

Here's a bit more in detail about how rates are calculated for DSCR loans:1.

Townhomes and condos in areas like Spring Branch, Heights, and Rice Military can see high appreciation rates.

But to really answer your question - from an outsider's view - things have tightened up and continue to be tight....deals are harder to find, and interest rates make some good deals just average.