It could also be that there are impending major repairs that are in excess of existing funds, or possibly many occupants are far behind on their condo fees.I'd contact the agent and drill down deep.

I’m in Minneapolis and housing prices keep increasing. so do I wait it out for the so called market crash that might not happen for the next 10 years or dive in? 

I'm sure you will come across more questions as you take a deeper dive into these questions.

Trying to reconcile this with the losses is interesting:Perhaps needing to deploy that much capital in such a short period drove local rehabbers to make poor choices, like diving into a bunch of high-end flips or larger houses that are harder to do correctly and harder to sell.If Zillow hired lower tier rehabbers who weren't accustomed to those higher end projects, it's easy to understand how rehabbers got in over their heads.

And some will dive.  

I greatly appreciate it and plan on diving into @David Pere information.

The seller would have to agree to sell at a deep discount.

There is a great book called "Deep Work" by Cal Newport which is all about staying focused amidst the distractions of modern life. 

Key to pulling off a BRRRR is getting the property at a deep discount.

The BRRRR requires that you pay in cash on first purchase (either your own cash, or someone else's cash), and buy at a deep discount because the property is in bad condition; the VA loan normally will require that the property is in good condition.