With all the international cash pouring into the market, prices are being pushed up, and in many cases, the local investor is pushed out (we're seeing situations in which international buyers are seemingly ignoring formulas and returns and simply buying to park cash or bet on the rising tide - and multifamily is in high demand).

I would expect you can bet on pretty good appreciation in the next 5 years if your place has good bones.  

is that in a C or D area?

My first vc meeting last year with the founder of a multi billion dollar fund said, "I have no idea even how to approach due diligence on this, the best thing may be is to bet on a couple horses and see who wins.". 

You can always bet on flooring and paint commonly known as a lipstick house which is sometimes harder to find at a steep discount.

A speculator is making a bet on appreciation.

I also bet on the location of the house and the area with very low vacancy factor.In conclusion, I pay only attorneys fees to structure the deal.

If you're making active, or earned, income, then you'll pay more taxes than you should by operating through a sole proprietorship or through an LLC taxed as either a sole proprietorship or a partnership.On the other hand, If you're receiving passive income from property rentals, then an LLC taxed as either a sole owner (Schedule E) or a partnership will save you tax dollars you'd otherwise spend if you operated this business through a C or an S Corporation.

The market there seems to be booming and there seems to be tons of opportunities.

This area, while in the Independence school district, is less than .25 to Lees Summit and .5 miles from Blue Springs, with comps in the area ranging from $110 - 150 depending on amenities and sq ft.Ruskin, Raytown, the heart of Independence are more like C- or D neighborhoods, with sales prices of around $50, and CoC's of around 20% even after maintenance and vacancy.