But I try to encourage my clients to value time to market. 

In today's market with high prices, high rates, and slower sales, I wouldn't recommend starting in flips unless you have a sure thing.

Unsure your market.

I am looking to house hack, but I am having issues finding the right markets in Northern California that have good population growth or at least a market that has a steady stream of tenants.

When I hear "small market" I think 8-10 caps, but maybe my small isn't the same as yours.  

The start of the article says it’s coming to rental markets across the country.

In my previous role, I encountered numerous instances of real estate fraud, which opened my eyes to the importance of legitimacy and trust in this industry.After months of studying the markets and educating ourselves on the BRRRR method, we are thrilled to have potentially found our first deal, along with other promising prospects.

I would just say the biggest red flag here is "anything sounding too good to be true" - whether thats a hard money interest rate well below market, or 100% "no skin in the game" financing, etc. - those are the biggest red flags here IMO

Waiting too long may result in the applicant backing out, and thus, you would miss marketing to and approving other qualified tenants. 

The Midwest market is absolutely on fire right now!