I know this isn't the greatest time to get into the market and am well aware that Santa Fe is VERY competitive and low on inventory but my life/career is dictating decisions more than the desire to grow a portfolio in hotter markets (for now). 

Inventory?

Most new investors who talk about building do it because none of the existing inventory out there meets their financing.

It's also tougher to find deals that would fit a full BRRRR model today because inventory is much lower than it was a few years ago.

It's also a tough market in some areas especially if you're trying to buy limited inventory and you'll have to keep putting in offers.

To say Oregon coastal housing inventory is limited would be an accurate assessment. 

Both markets have been operating on record low inventory levels for about 2 years.

Extremely high taxes and maintenance costs plagued by huge inventory sitting in the market. 

Also Dave this is one of bit of secret lol , if you see this chart , from month-to-month perspectiveyou would notice for this market, price is up when inventory is low and price would start to drop when inventory is at peak, this is repeatable seasonality in this market.

Here in OR we're focused on STR's and Multifamily which usually has tight inventory so it can take some time for the right property to come to market..also some of the active listings might still be available later this year and become prospects at more negotiable terms.