If market rent is 1% of the value, then dig deeper. 

@Jason Clark I would recommend waiting for your job to start back up and give it six months of additional savings before you dive in to real estate.

what assistance should we be seeking to keep from digging ourselves in a deeper financial hole? 

I don’t have a huge problem with that.Otherwise, you’re literally losing money by not diving in now.

I recently started reading about wholesaling and decided to dive in.

@Madhav Thaker, I am new to the US market In general, and BRRR has been something that has caught my attention due to the fact it is much easier for me to do that in this country.Coming from Australia where in my area the average house price was >$1m I started looking out of state (I’m glad I purchased my first property locally and not OOS)As many have pointed out on these forums, it is easier to get into the game locally because you can learn more from the nuances of running a rental with hands-on experience.As much as I would love to dive deep in other markets, being at a disadvantage of not knowing the area like a local will be hard.If you must here is something I have started doing, but you might go in a different direction:1.

But I'm sure you're right about needing to dig deeper than the cap rate to be sure.

Before going any deeper, you should run the numbers through the rental calculator and see if it would even be a property worth buying.

At the end of the day you might work and see only numbers, others are more speculative, dig deeper into the problems and make it work before they sign that dotted line and can't get others to agree when any other day they might walk away.

I'm diving back in to real estate after a 7 year hiatus in which I built my Reclaimed Wood Art and Decor business, ivegotahammer, and it's offshoot, The Golf Artist.I've been inspired by my son who has been crushing it wholesaling in our area, and we've decided to partner and do some flips together.