Often they like to ultimately buy their properties and will pay over market value so they don’t have to uproot the established program to stay in the home they’ve been renting.

There will be multiple markets you can achieve a 7.5% cap rate especially if you're buying with cash.

Multifamily is incredibly complex and if you don't understand the metrics or calculations behind it, you're going to get burned. if you're just plugging numbers in until it "goes green", you are either going to miss out on deals or buy something you shouldn't. 

Just make sure you are fluid with this info on each property so you do not buy wrong.  

So, if you buy an older home it's typically much cheaper, since you're not paying much for the structure. 

Buy properties with more and more units.- Can also try to do seller financing, but much harder to find.

So depending on what your investment goals are and what type of properties (Class A through C/D) and where in the city you want to buy, that can directly impact the level of stability one can find within the market here. 

Quote from @Atif Khan: Hi, new here. i just finished building my first spec homes out in granbury tx and was looking to buy a few more lots around dfw metroplex.

The early portion of my career was buying turnkey rentals, like the one you described. 

Most likely trying to find a sucker to buy this and take over the costly legal battle they are entailed in.So next time someone is like "yeah just get a deed in lieu at closing", think twice about that.Actually, I use the deed in lieu.