How is the Multifamily Market in Florida?

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I'm looking to move my business to Florida and focus specifically on buying apartments. Based off the research I've done it seems that Orlando, Tampa, Collier County, Ft. Lauderdale markets are good.

I'm trying to decide on which one to pick first. I will expand to all of them at some point though. Does anyone have the ground truth?

- Thanks

[Mark J.]

I monitor the MLS everyday and look at every MF in Hillsborough County. When you say "apartments" do you mean complexes or duplexes and such? The majority of the duplex/triplex/quadplex properties are in East Tampa (33610) and NW Tampa (33504/33612), and scattered far and wide along the 1-4 and I-275 corridor, which are generally considered to be a low-income areas. Rents are low, but properties are cheap and commonly run-down through poor upkeep. The most common MF is a duplex, 2/1 with about 600-700 sqft on each side. Most are garden level, although a few are two story, particularly in the Sulpher Springs area, which I think is a better investment than East Tampa, particularly if you can get property near the Hillsborough River. However, Tampa is a bit strange and you can find MF properties plunked down in the middle of a SF neighborhood, so there are lots of options.

I'm definitely seeing an uptick in MF listings within the last three months as investors who bought at bargain basement prices ($20-30K) in 2011-2013 are now cashing-out around $100K. Section 8 housing generally supports a $750-$850 rent for a 2/1 and higher in other areas.

Not sure if this is the market or info you're after, but feel free to PM me if I can help in any way.