People aren’t able to make payments on loans and some will not be able to return to work.Foreclosures has a backlog and no properties that can not move forward to the sheriff auction stage.On the other side of the market we have the open market (MLS) that is competing for a very small and very scared buyers pool.

Many of the smaller properties without significant amenities may not see much of a shift, especially if their price point doesn't really compete with single family homes.

I think five is a great number that's big enough for a bigger player, but small enough to be approachable at that price point. 

I am following the same strategy with 50 units or under in the South East to avoid competing with large investment firms and to find the more "mom and pop" operated properties to add value, refi to return the majority of investor capital, and then hold.

Rather, they are actively pursuing them and competing with other seasoned investors. 

A competent real estate attorney should be able to help for not much $$$.There are also ongoing expenses in some states.  

Your 203k consultant is also your second most important player.

Its like sampling a NFL players 40 yard dash but for apartment underwriting.

There are several hundred other players  that barely register on the map.

I feel like I'm competing against myself on price but want to make sure I drop the price appropriately in order to get an offer quickly.