Your $1,200 ask may be fair for your market and property, especially if supported by comps, but they might not approve it if the tenant cannot afford it.

There’s certainly plenty of affordable opportunities to get in the market.

BRRRR strategy is still a great strategy in many markets.

It's always better to stick with markets you know!

Your goal should be to have performance cap rates at 7-8% on something with a market cap of 5-6%, which gives you a healthy 200 basis point spread from the going market rate. 

Most wholesalers who have 20 contracts at a time are spending a lot on marketing in order to secure so many deals.

You can analyze it all you want, but until you get it on the market, you don't know what the market will dictate.

I am familiar with the market.

Is the market too oversaturated?

Not only will it have a negative effect on landlords, I would imagine some owners of single family homes will choose to sell to an owner-buyer, thus reducing the number of rental properties on the market, making it more difficult for renters to find places to rent.