Looking for opinions on a 6 family investment

[Chris Agun]

I am looking at a 6 family property that is roughly 650k fully rented.  I feel that it is just too expensive and give up to much equity buying at this level.  

My question is at what point is cashflow high enough to justify purchase price? Or are there other factors I should look at?

Part of me just wants to wait for a market bust to scoop something up but hearing some opinions from you guys would help.