So I'm looking into acquiring my next property. And I have one in my sights. A run down 6 unit. It needs some updates. But otherwise pretty good shape. But my contractor has advised me that in the great city of Low...

I am fairly confident in estimating the reno efforts within the individual units but when you start looking at the structural integrity of the building itself and some of the systems (HVAC, electrical, fire suppression, etc) which can be quite different than what you encounter in a smaller building, hire a professional.This is one of the reasons you have a longer diligence periods on commercial / multi buildings.

In this case, and every other 'ring' case, the parties conspire to suppress bid prices.

In the market over the years since 2008 where investors have become an increasing percentage of the buying pool, the limitation of the number of renters has depressed the condo prices in the developments have restricted renters.Another phenomenon that has occurred is that condos have raised fees to build their reserve funds.The combination of renter limitations and increased condo fees have also suppressed sale prices in those developments.All is not lost as there are other sources of financing than FHA.

When I bought my duplex in December, the owner wanted to move out of the state to retire so he was motivated to unload the property.I would say that middle to lower tier areas typically cash flow higher due to the suppressed valuations due to the negative stigmatism.Typically sfhs appreciate faster than duplexes due to the diverse reason involved in sfh purchases ( finding the perfect school, cuteness factor, commutes etc).

Listsource will only keep my list for so long before they delete it and then I cant suppress those names from new list.

But I think interest rates will increase at least moderately and that will suppress prices somewhat.

Typical turnkey companies are buying homes of suppressed value, adding value, and then selling them to the end user at a higher price as a stabilized rental. 

Depending on the state you are looking at, it's suppressing returns and/or increasing risk, usually both.

there isn't much more the fire suppression system has its own meter....