I am a purist that likes to keep things simple and ultra effective with the most simplicity possible.I can see the younger crowds getting into exploring all of this stuff.......... : )

Superstars are hard to find maybe 10 to 20% of workers out there.Some workers want high pay and ultra flexibility but that may be at odds with what is best for a business.  

We HATE golf, loud Harleys and ultra touristy locations.4 would favor discount to ARV vs. low price.

Recently a few ultra-wealthy people have combined lots to build extremely large homes nearby. 

Flipping houses is ultra competitive.

I think at some point something has to give.I was reading one persons opinion and they said the ultra wealthy don't need to buy in an overheated market.

i'm not saying that it's impossible to wholesale in those areas, but if i am an ultra motivated seller, and i need to sell ASAP, (and i know that demand >>>> supply), i will get a listing agent and simply tell them that only cash offers will be accepted.  

I bought sight-unseen, and due-diligence undone, in an ultra-low level neighborhood one of the poorest sections of town.

There may be site specific or submarket specific factors that justify paying this price and cap rate is not the end-all, be-all justification to price an asset, but in general a cap rate in the 4s for a c class multifamily property is ultra aggressive.

I'd say your first step is determining what type of rental investment you want to do (self-manage, create your own team with PM, or turnkey for ultra-passive investment - I guess it's obvious which one I'm biased towards ;).