This is a good sign I think.As for multifamily, there are not a ton of purpose built small multi families in SB so they are definitely tougher to dig up.

In other words, you can always offer more, but it's much tougher to offer less once you've shown your cards and offered too much!

It's getting tougher with compressing cap rates, but I'm staying optimistic and looking daily.

I wonder why on Earth he is leaving his home market for a tougher more competitive market. 

It is tougher when California or similar will take reduced yields to purchase and do not have the currency conversion loss the Canadians do.For me to work with foreign clients these days they have to have researched all the taxes, withholding,financing,return issues and be realistic about the numbers.

The ability to qualify is tougher, the length of time to get a loan etc is going to take you out of the best investment deals.Honestly its tough to compete in Dallas with anything other than cash offers.I personally would look for a duplex to house hack, and realize that it might not cash flow at first, and let the time I live there make it a better investment.That is what we did, the original numbers weren't the greatest when we bought our first duplex. 

Higher ROIs are typically  in tougher areas (say Gary).

The deals are definitely there if you're working with the right people, on market might be a little tougher.

It is definelty much tougher to find sellers who would be willing to do aterms deal.

Not so much cause we are too good for house-hacking but just because we're at a point where each move has gotten exponentially tougher (Read: We have an infant at home).I think you hit the big question - what is our concrete number?