There's usually a good reason why the entry points are lower.

The median home price is also very low nationwide which creates a low barrier to entry.

I'd see how next 2 weeks go before lowering the price.

There are significant advantages to investing here (lower barrier to entry, much better price to rent ratio's, etc. etc.).

I have however come across a few deals where the sponsor purchased the property at a much higher cap rate (around 7.3) than the market cap rate (around 6.4) and then projected the exit cap rate at around 6.8 (which is higher than the market cap rate but lower than the entry cap rate).

I am considering purchasing in Lower Dimond and any of the directly adjacent neighborhoods.

Otherwise, I'd say watch those areas closer to Micron understanding the barrier to entry will be significantly higher in exchange for the lower risk.

Kudos to you for doing something to create a secondary income stream. there are 5 income streams in RE rentals, possibly six if you do things a certain way.The reality here is your model (buy box) is suffering from too high an entry and too high a cost of capital.

What are some other emerging markets maybe with a bit lower to cost to entry for a BRRRR strategy?

The importance of lowering expenses and increasing efficiency to maximize property income.