The Annual Allowable Rent Increase effective August 1, 2024 - July 31, 2025 is based on the lesser of 4% or the change in the Consumer Price Index (CPI) for the Los Angeles-Long Beach-Anaheim metropolitan area.

Different circumstances, different economies, different geographical areas and different players all have tremendous influence on the success or failure of a strategy , or tactic.  

The current area we are living in is very expensive (Boerne, TX) and is a heavily deed restricted region.

That would be an interesting market to start off in for a BRRR property since I'll have eyes out there and have a decent grasp on the market in that area. 

How important are factors like high-speed internet, furnished common areas, security features, and in-unit laundry to these tenants?

Flipping here in the bay area is no easy task, and I am glad you have your buy box figured out.

We looked at other houses with the same specs that were for rent in the area.

If you're someone who only has a handful of properties and they are pretty centralized in your area it might be best to just handle them yourself and invest in a good PM software. 

This is one of the most overlooked issues with SFH's in lower price point areas.

I would be more interested in knowing about the immediate area today before I made a decision.