Need guidance where to invest in today's market.

[Cathy Lopez]

Hello, Biggerpockets community, This is my first question on this forum.

 My husband and I are looking to invest in 3-6 multifamily rental units.  We currently have a few single-home investments in Memphis.  Here are my questions - 

1) What long-term city would you invest in today? 

2)  Are there any untapped markets left? Or is everything in all of the USA just too crazy and expensive to get into right now? 

3) Should we hold our cash and wait?

Look forward to hearing what is out there.

Best,

Cathy & Max