As an agent, I have been seeing insane numbers being offered on properties where there is no way the rents can possibly make sense.I'm curious how people are spending so much on multi-family properties, especially in the current rate environment.

To add: you have a historically strong and consistent tourism presence, limited land/STR allowable areas, highly liquid property compared to selling a cabin in the woods, all 9 classes of visitors in the STR sector, and appreciation.  

It's helpful to understand the nuances, especially regarding the  block-by-block differences and the competitive buying environment during this time.

I don't know if technology can replace someones experience of living and breathing in that area/environment.

View reportThis property was listed $320KDuplex with basement and 3 car garage in a Class B neighborhood .

Now after all that, you have to go to a lending institution a second time and try to get a loan and there are many requirements to getting loans in todays environment which make it difficult.

There are so many horror stories, that the whole class of investments should be suspect.  

If you could find a duplex property (or a single family house that could be turned into a duplex--check any HOA restrictions first), or a "fixer upper" to live in, that could be a better use of the equity you have in the rental house.If you run the numbers and decide it makes sense to sell the rental house (check with your accountant, figure out closing costs to selling and buying) then you'll possibly have more money to put towards a primary residence.You may want to check the neighborhoods that fall in the school district you want to stay in and look in "under appreciated" areas...maybe not the A class neighborhoods, but ones that have potential of becoming "improved".While I understand your desire to stay in a particular school district, it's not the end of the world to consider other districts if they will allow you to build real estate/family wealth that will put your entire family tree in a better position."

Yep, exactly what I see all gurus pushing: Class C/D properties, section 8 "guaranteed" rent, etc. 

We have a city ordinance that makes income source a protected class, aka you can't say No Section 8, but it also means you can't say ONLY Section 8.