If the market is in the dumps and no one is buying, I assume that the market will be better in the future and my exit cap can compress from current rates, assuming there aren’t other macro or micro factors at play.

I try not to guess about macro-economics.

none of them. get closer to a capital market and major city within 30 miles. all of these are too far. look at homestead or north of palm beach county, closer to tampa, etc not an hour away these are over delivered and new builds from tract builders are selling for less than 200 per sq ft right now in some of these markets rents have softened. there's no jobs or macro city that's driving these areas. these are softer markets for BTR than other ones. get more involved and directly contract with builders. miami dade county, even Orlando has better 

Ignore the macro trends unless you are investing in a mutual fund or REIT.

Plus, the macro story here is super strong—tons of job growth and population growth, and huge developments from Intel, Amazon, Google, Facebook, Microsoft, Honda, LG, and more.

I'm a person, and it has been a challenge to handle these things without getting sidetracked.Here's a macro level point that I would like to leave behind: whatever market you may invest in, it is important to calculate *your return* in that market.

@Andrea Andrade, Zan has some engaging content with his deal criteria posts.Ian provided a strong list to consider, and I will add one more: you need to have a general macro-economic vision of where things will perform.The key is to first educate yourself. 

So call it "costing more" call it inflationary call it whatever, the reality is mathematical on a macro scale; Real Estate prices are going UP, not down. 

Some investors attempt to employ all kinds of macro, micro, and mini economic factors into their analysis - auto sales are expected to be down 20%, family formations will increase until 2031, taxes will be increased to 40%, etc.  

Not entirely clear to me if I'd like to go full BRRR (don't know that the macro situation is good for that strategy right now), but something I could put a little rehab into so I can get immediately ahead on equity would probably be ideal.