Most people see high interest rates and immediately think it's not a good time to buy. The flip side of that coin is that if you are in the market while rates are high, there's a lot less competition. You can actually get an even better deal on the front end by getting things like closing costs and commissions covered by the seller and sometimes even under listing price. 

There are good deals in every market. I am to this day finding good cash flowing deals on market that have 20%-30% CoC for owner occupants. If we're seeing those numbers while rates are high, just imagine the jump in cash flow when you refinance to a lower rate!