Bad sign if a property has gone back on the market multiple times?

[Paul Spangler]

We were recently looking into a 4-plex in Tualatin, OR listed at $395,000. I've driven by the property and the surrounding area and it's in a great spot, and the total rental income is listed at $3,700 a month. The listing agent sent us the financial records and the rent checks out, so from what I can tell it would be a great buy for this area even at the asking price. We made an offer and they went with another buyer. A few weeks later it popped up again on the MLS back on the market. We put in another offer and they went with another buyer again. Just yesterday it went back on the market again. That's twice in 2 months that the property has gone back on the market because the buyers are backing out for one reason or another. Should I be concerned about the property going back on the market multiple times or should I put in another offer? If so, should I try to put in a competitive offer or should I put in a lower offer?