The high-priced rentals will drop when the market turns and people can no longer afford the luxurious.

Is it luxury and amazing to be in a multifamily that's probably not the nicest and have your tenants next door?

I live in Bayonne and have seen progress towards positive change since moving here (luxury apartment complexes, ferry, Costco, Military Ocean Terminal redevelopment, bike share, park improvements).

Go luxury sooner, so your commissions are higher than the sub-$300k stuff that a lot of Realtors are more comfortable doing and if you land a big listing, you could always partner with another more successful luxury Realtor who would be happy to co-list and cover the cost of the luxury marketing if you're bringing the listing to the table...Hope this helps! 

I saw the same things happen in Altamonte to low income apartments built as such for favorable financing when they were rehabbed 15 years after and sold as luxury condos.

Our units are Just below my markets luxury units.

You don't have that luxury. 

Deals are much harder to come by here Charlotte, so patience is definitely a virtue for finding a great deal.If you are available, you should come out and celebrate at the Meetup we are having tomorrow (July 3rd)Charlotte, NC REI Meetup - Tuesday July 3rd

Since we are both 50, I feel like we don't really have the luxury to wait for another large MFH.

My non-expert opinion,  or perhaps just rationalizing to myself:These are primarily the "luxury"   amazon dormitories being built in downtown and south lake union areas that are having vacancy issues,   and thats in large part just because of how many are coming online, and how many thousands more are still in the pipeline,    coupled with modest slowdowns in tech hiring.