With a hot real estate market and multiple offers on properties, can I change properties if I'm outbid on initial 3 properties?

The market is hot in the Boston area, so capitol is the main issue for me at the moment.

They could go to Walmart and buy a 55-gallon bin to bathe in with hot water heated on the stove and take care of basic needs.

Lots by themselves often don't appreciate short-term, in my opinion, unless in very hot areas (CA, Pacific NW) or something drives the demand suddenly.

Rents are good too, but the cash flow is not so hot after you take into account all your expenses. 

We have installed a tankless water heater so we can adequately supply all units with hot water as there was just a standard 40 gallon in place to handle the entire building prior.

Plus I'd have to live somewhere anyways and the rental market's red hot in places I'd want to live.

I know that area is hot, but really drill down into the numbers to make sure you are actually getting a 4.5% and not a 2.5%... 

I'm sure you can do something similar:LIVING IN THE TROPICS: When accepting this agreement, the tenants confirm that they understand that the home is in a tropical and hot weather location and that occasional wildlife and insects not ordinarily seen in other climates may be on property.

The real estate market is hot because of that and the emerging middle class in Colombia.