I am doing BRRRR in my area, but now that Seattle market is becoming hot, looking to BRRRR out of state.

The market in Indiana right now is hot.

Ask for a reserve study from the HOA to see the expected remaining life of some of the larger cap ex items, such as roof, parking lots, central heating/cooling systems, or hot water heater systems if applicable to that complex. 

Replacing south-facing windows with low-E windows will keep the units from getting very hot when the sun beats on them in summer.

Its also worth noting that vacation rental vs. affordable housing for locals debate in the City of South Lake Tahoe is a hot topic, with greater restrictions to acquiring & running a VR.

Tiny houses are a hot property right now along with retro RV rentals and Camper Vans trips.  

I'm a bit unusual and a contrarian, but I prefer to lever up after a market correction/crash when great deals are more plentiful, let the equity build as the market recovers, and then deleverage when the market is hot.

I'm also in the DFW area, and the real estate market is hot with little signs of slowing down anytime soon.

Being that this market is now changing due to the very low inventory, you might be more successful with listing flips mid-project because buyers don't want to take the chance on losing out on hot properties. 

Time is of the essence in a hot market like San Diego.Now, I'm just asking if anyone has done this method, because I can see how it would work.