Are multifamily units a unicorn in DFW?

[Milind Shastri]

Hello everyone, 

Has anyone invested in multifamily units in the DFW area lately? I've been looking for a MFU as a first-time home buyer investment, but looks like properties like the one I am looking for are either non-existant or always under contract. Maybe I'm looking at this the wrong way and can use some insights to get a first multi-family under contract. 

My criteria is simple: I'm looking for a property that has the best COCRoI and annual cash flow with acceptable investment. Here's an example of my calculation sheet:

Now I have spent about 4 months searching for properties like the 5 plex above but seems like someone has always got it under contract before me. Maybe it's time for me to restrategize and sharpen my axe but if someone has any ideas on how to get Duplexes/fourplexs under contract, particularly in the DFW area, please shed some light here. I'd be happy to add more information.

Cheers!