Are investors still buying distressed apartments?

[Alejandro Mendoza]

This question is mostly for the Central Texas region, primarily San Antonio. My bread and butter has always been single-family and small multis but I figure this would be a prime time to start considering acquiring apartments specifically in the 4-20 unit size at a good deal. Anyone actively doing this? Curious to hear from all avenues, lenders, agents, investors, etc. 

I was thinking of looking around the Downtown San Antonio region. Really liking the Tobin Hill, Alta Vista, Mahncke Park areas.