Single homes are still on the slow rise and there doesn't seem to be any type of "bubble" peak indicating that this is going to slow down.  

However, we must also realize this is a 5 year lease and we hope that rents continue to rise in the future, but then have locked themselves in to $14/SF.

Given the largely terrible rent/purchase-price ratio we are seeing in these suburbs (some worse than others) - I figure that in the case of our current pending purchase, I would have to hang onto this property a bit until either rents go up or property values rise to a level that justifies fix and flip or BRRRR.

  ( crown not so much) but granite quartz stainless yes.. and appliances are appliances nothing more expensive about installing those in most instances.Right now in most markets SUB labor is a real issue  IE lack of quality subs.. too much demand for new construction and not enough folks to do it.. so this has cost sub prices to rise over the last 3 years.I would get some other bids to see what the market is paying.. although in our market that would be very high... in context we will pay about 300k for 4.6 mil of construction cost.. ( vertical only does not include the building of the lots which is another 1 mil and its included in the 300k)

obviously I'm new here and trying to take the temperature of things.1 to 10 how safe of a place is the BP marketplace forum for a newbie looking for a deal?

Job growth and population growth all rising in SD.

If you look at the table, in the early years you are 'building equity' (the combination of principal pay-down and rise in property value of 2% that I used) by about 32K per year, PLUS you had some cash flow of 20K +/-.

I have been focusing on Gallatin the last 12 months as I have seen the rent prices and demand rise dramatically. 

Prices are rising in Central FL to the point that a lot of investment property is way overpriced...again!  

This past March after finding out how much equity I had in my home with the purchase of a short sale, work done to it and the rise in home values caused my interest in REI to come back around.