You should charge the market rent in the area you are in based on what you are offering.

Are they getting them in front of off market or pre market opportunities?  

@Zachary Harr Personally I’ve researched other markets and have decided to just stay locally due to the headache factor of managing teams long distance.

I'm have trouble getting a quote for fire insurance, due to State Farm pulling out of the market.

In my market that makes the most sense if the numbers work right for you.

I'm curious to hear from the experienced folks - finding the right property at below-market value for BRRRR seems very exhaustive, wouldn't they be more motivated to sell a property at market value for less work and more profit?

I can tell you that I have not had luck with appraisals in the CLV area, not sure if that is the market you are attacking. 

It's a solid list worth marketing to, nonetheless.

I am a resident of Dallas, TX, interested in entering the San Antonio market.

You also can’t use any estimates from people not in your market who invest in the same type of property.