The sweet spot right now seems to be in properties that need more rehab in our area. 

Typically between 130-180K is the sweet spot for the area/rent

I consider Vancouver area the 'sweet spot' as you can benefit from no Income Tax from Washington side, as well as no Sales Tax from the Oregon side.

This to me is the sweet spot for many STR situations.

.• 75% LTV — The “industry standard” for BRRRR refinances.This tends to be the sweet spot where:– You recover enough capital to recycle into the next project– Debt service stays manageable– Cashflow remains positive even with today’s higher rate environmentA lot of Triad investors settle here because the rents usually support it.• 80% LTV — Only works when the rehab is tight and the ARV is rock solid.You can pull more cash out, but:– DSCR compresses fast– Cashflow can get thin– Appraisal risk becomes much higherMost investors only go this high on lighter rehabs or when the numbers are extremely predictable.In short:70% = safest,75% = most common,80% = possible but narrow.Always interested to see what other markets are trending, but these are the ranges that consistently work for BRRRR investors here.

With your buy box and budget, you’re definitely in the sweet spot for stable single-family rentals.A couple of quick notes from experience:Focus on tenant-friendly neighborhoods where Section 8 rents can often outpace market rents.Line up a good property manager early, that makes or breaks cash flow in Memphis.Wholesalers can get you deals in the $70K–$90K all-in range, but you’ll want to move quickly when they come up.I work with quite a few investors running BRRRRs here, so if you want to connect, I can point you toward reliable agents, PMs, and rehab crews who know how to work within those numbers.Glad to have you in the Memphis space, it’s a strong city to scale in.

I’m based in Memphis, and for example, we see a lot of first-time out-of-state buyers here because the entry price and rent-to-value ratios are easier to work with — but every market will have its own sweet spots and no-go pockets, so the right local guidance is key.You’re asking the right questions already, so you’re on the right track.

Typically $1-2mm and above sweet spot being $3-8mm. 

The advantage is that if you negotiate a purchase price that makes sense today but then purchase the property in a year or more, that property may have risen in value by then and you get a pretty sweet deal. you can potentially sell the option to someone else but I'd think that's a last resort, it'd be better to purchase it yourself.  

Do you think the hundreds of local investors in these markets just overlooked all of these sweet deals?