But the further you get into the overall risk profiles of real estate (meaning Core > Core Plus > Value Add > Opportunistic > Development) the less meaningful cap rates are, and the less they indicate risk.  

As you connect with sponsors that resonate with you, take the time to develop a relationship with them.

When he asked me why I told him that it was how I wanted to show him how much I appreciate the time he took and how much it meant to me.

I haven't heard about what type of rollout of employment is to be expected, but obviously with such rural areas we will see a  increase in developments in the county and increase in demand of higher-end homes along hwy 79 towards Memphis.

My thought is that at some point down the road it may be worth much more to a developer who wants to build larger.

I understand the importance of getting experience through repetitions, but I first want to make sure I'm developing good habits as I "run the numbers" on properties.I often get "stuck," and doubt my accuracy on a few variables:1.

Develop a metric that works for you and gets you the returns that you want. 

But this is a Long play, and being able to pick the winners/losers; developers/adapters and followers. 

With permitting watch out for the SDC's (Systems development charges) from the city for the extra fixture counts.

The BRRRR strategy is meant for folks who want to get more aggressive and be rewarded for the "higher risk" with higher returns.