Also there are weather issues with Indiana winters and pipes possibly freezing, thunderstorms and hail damage2) Knowing how long to hold onto a property, 1031 exchange it to another property or DST, or in some cases sell it and pay the small capital gains tax (if any) to have less headache. 3) Underwriting the deal incorrectly (factors: local appreciation, rate of rental increase, economic growth, gentrification of area) and being overly optimistic (a renovated 100 year old home is still going to have problems).

For cash flows, I invest in midwest.For appreciation and BRRR projects, I invest in CA/Bay Area itself.From total return standpoint, CA is a winner at all.

This is our first project and we are beyond excited!

I’m willing to purchase in any condition as long as the purchase price + rehab makes sense once renovation is complete.

OR I would consider JVing with the new buyer to get my principle and small interest on the back end of the project. 

Because of my skillset, I buy slightly larger multifamily/mixed use properties in need of major renovation.

I moved here from Florida after seeing the projected growth.

BG is building to meet projected demand.

BRRRRing can be done remotely for sure, but is more project-management-heavy than a turnkey buy and hold property. if you could BRRRR STRs or MTRs that would be even better!

Who are the employers and what major construction projects are underway?