I wouldn't call them hot markets unless you're physically here on the ground.

I've got investors looking for multi-family from all over the state looking at Central Washington because their local markets are too hot and deals are hard to come by.  

The trouble is, it's a pretty hot market and most houses have multiple FHA bids on them.

Plan about $9K in repairs up front for new carpets or floors, paint, 6 appliances, hot water heater, plumbing leaks, and to fix whatever else was broken.Also, if you are planning FHA financing please beware that many of the foreclosures will not qualify due to disrepair.  

This company has been around for over 60 years and is a house hold name in this town.

But I'm also coming from the perspective of a perpetually hot market where we need to be super aggressive to acquire a property.

exit from hundreds or more SFR's can be a real chore as well if your not in a uber hot market were retail sales are the norm.. much easier to sell one 500 unit apartment complex.. then 500 homes scattered around town.I see this often with folks that own a bunch of SFR's they want to sell it like its a apartment.but lets say the 200 homes are worth 100k a door that's 20 million.. a 20 mil buyer would much rather look at one asset in one place or maybe two or three other than 100's of homes.. 

That area is really hot for development right now.. if you have buildable pads for around 60k, lots of developers would be interested.

If it is a hot market, you sold high, but then bought high too.

The resort has many amenities (6 pools, 3 hot tubs, tennis courts, water park, etc.) on a big plot of land(33 acres).