Are prices too high for rental investments? Jan 2022

[Charlie O'Leary]

Hey everyone! Looking to invest in my first rental property. I have a very trustworthy (childhood close friend) connection to set me up with basically a turnkey deal in Philadelphia. 

I am weary of the market now as prices are so high. However, money is cheap right now / interest rates are low. 

Can anyone shine some light and/or share some opinions on investing in the current market? Is the market too volatile to be investing in rentals right now?

Any and all input is appreciated! Thanks everyone!