It’s a tough environment for the owner-manager.

It's definitely a much tougher environment for out of state investors.

This is the environment for buy and hold people in these areas people will rent and many will rent for the majority of their lives.

The Realtor is for the seller to market their property using the biggest fishing net available.

The city will likely reconsider this at some point, so the regulatory environment is not that secure right now.

As I have followed towns over the last 10 years the ones that got some early development have been followed up by a slew of other small and large developers that have not only helped the residential picture, but the retail and small business environment as well. 

The outcome will be largely determined by how eager the seller is to close and be done with it and what the local market environment is like for similar homes.If you’re serious about buying a home and you find yourself in a competitive market with rising prices, you may want to plan for an under-appraisal scenario and have extra cash on hand to fill the lending gap.

That will be difficult to do in this current rate environment if you are using the funds to purchase a buy and hold property.

Either way, there is complete coverage of prospective tenants in any environment. 

All strategies work in any environment, but yes, BRRRR is particularly challenging right now.