I can't speak on multi's, but I own 2 one bedroom houses in the north end of NB and have had no crime issues and good long term tenants, still some gems to be found.

Although this market is saturated and very expensive there are gems where value can be added and great cash flow can be had.

Learn how to analyze deals and regardless of the economy and external factors you'll be able to spot the gems. 

Sharpening that skill will make you ready for when you do come across a gem and you can then act quickly. 

Do the math its not bad by my standards...we never even touched the outdated bathrooms.There are plenty of these gems here in midland/Odessa.

Then apply your model to find the gems, whether SFH, duplexes, or some of the nearby small MF 4-8 plexes, again, depending on what you're looking for. 

Of course, you can certainly find some gems.

As a syndicator myself, I've had the opportunity to meet a lot of other syndicators and have been able to find some true gems to invest passively in using my retirement account.

How to Invest in Real Estate" by Joshua Dorkin and Brandon TurnerAnother gem from BiggerPockets, this book is a comprehensive guide that covers the different avenues of real estate investing, making it a great starting point."

I think it is an absolute hidden gem.