With median home prices hovering around all-time highs and inventory below normal, first time buyers in particular have been squeezed out of the market.

The half-point cut suggests deeper concerns, particularly regarding unemployment.

The new property would be a primary residence, so you would get the best mortgage terms available for your particular situation, including relatively low downpayment options.

In this particular property the GFCIs were on the circuit breakers which is acceptable by code.

They're just buying an STR because their friend (with a 2017 mortgage) is making good money, or because they saw something about it on Youtube, or social media.If this particular cabin we are talking about here doesn't underwrite, it might still sell....for now. 

@Suhaib - For me, the biggest driver is the ability to increase rents for a particular building/property and then investigating what it would take to get the rents to that level.

In this particular situation the rents were guaranteed by a local organization that placed the ex-convicts so that was a nice setup.  

In fact most new BRRRR investors prioritize whether they can receive 100% of their capital back through a refinance over all other deal metrics and being laser focused on that particular objective often leads to investing in the lowest tier neighborhood where it is easier to complete the BRRRR process. 

I think there is still opportunity in Jacksonville, but you have to be very particular about what you go after, it's definitely not easy to find good properties even for seasoned pros right now. 

Long-term investors, in particular, might be willing to take on the higher short-term challenges for the prospect of substantial appreciation down the road.3.