Whatever market you are looking, I'd consider putting out a cash offer. 

Invest with syndicators who have a narrow niche and proven track record.For example, if an operator has done 5 or 6 workforce housing value add deals in Dallas, and they are offering a similar deal now, that would be encouraging.if however, their current deal was a brand new luxury Class A building in Charlotte and this was their first acquisition in Charlotte and their first class A deal, as an LP I would pass.Find operators who do one thing and kill it in that space.Find operators who own or have gone full cycle with similar assets in the same market.For example, my firm, Spark Investment Group has a very narrow niche - sub 100 unit MF or BTR in Greenville SC.

I just worry sometimes when I see too much gung ho... and maybe not enough practicality, so I try to step up and offer a little advice from my 7 years in the business.

City National Bank is offering up to a $50,000 grant to buy properties in certain neighborhoods. 

Quote from @Rick Im: I recently submitted an offer on a house listed as having 5 bedrooms and 3 bathrooms.

@Will Jones, we are in the process of putting an offer on a piece of land in where we will build a building for one of my businesses and then lease out the rest of the space.  

We had a couple "we buy ugly houses" type companies come in and offer less than even the lot itself is worth.

We offered our impacted tenants a hotel room while we were awaiting repairs, but both tenants decided it was easier to stay put. 

I think they stopped offering it and started an investment group.

Cities like these offer untapped potential without the intense competition found in larger metros.3.