This deal was a wise decision, considering the amount and body of knowledge provided here in BP, by the BP community members, books, blogs, and tools, all compressed in time so that what took decades of mistakes by other members combined had given you a considerable leverage.

Opportunity exists between 5-35 units but larger assets (what I am targeting) are constrained by compressed cap rates.

It has compressed but still good deals to be had today.

A few of the larger companies in town are already beginning to see a compression in their prices, and slightly higher vacancies and it's a trend that will probably continue for a few more years until things even out. 

With compressing cap rates in this hot market, I would be very careful not to purchase something just to purchase because you have the money.

If it's not 10% or more (very rare these days with compressing cap rates) then it's not a deal and I keep it moving to the next deal.

If they refuse, they may well know something bad is going to happen when you do.I've seen references in HUD property condition reports to using a generator to power the house and test the electrical system.You can use compressed air to pressurize gas and water systems.

California has seen prices/values going through the roof, but cap rates have been compressing, haven't they?

Now, that said I AM pessimistic on the higher value properties, I do see a compression factor potential as a person who was at say 125K+ income can not match that with UI.

I expect to be investing out of state due to compressed local cap rates.Anyone's input is appreciated!