Who is currently buying MFH? What CAP Rates are you expecting?

[Derek Gendig]

I am with a property management company located in Indianapolis, IN.  We manage many different types of homes ranging from $2400/month corporate relocation's to $550/multi-family homes.  There was a time, not too long ago, that it felt like everyone was looking for the passive income that can be generated for having 1 roof and 4 individual units.  

There was a period that lasted about 8 months or so in Indianapolis that many investors we looking for SFH rather than MFH. The returns were typically ranging between 6-9% for the SFH and 11-15% on MFH. Purchase price was very similar so I ask today.....who are the MFH buyers today? Are they hedge-fund groups? Reits? Pools of individual buyers? What are you seeing out there?