I tend to feel like I'm missing something or I should code an entry differently.

Many agents tend to "over advise" if they don't just flat out tell their client not to do something.

They tend to be on the outside looking in.

The hedges tend to overpay regardless.  

(multi-family surrounded by single family tends to rent for more)  What are those renting for?

That will show who is local and who is outside the area but wants to expand there.Commercial real estate companies tend to get reports you are talking about from info source companies.

I can usually find a SFR for about $90k which would rent for $850-$900/month or a quad for $130k and a gross rent of $2000.For me, my risk tolerance, goals etc I tend to stick with the small multi's.  

I have heard Philadelphia has a solid student rental market but would like to keep away from that since these properties don't tend to appreciate much and kids can really put a strain on the properties. 

If you have the funds available, $400/mo is an awesome risk-free/hassle-free return on $28k like @Orlando Spencer points out.Also, when my reserves are reduced, I tend to work harder to build them up again!  

I tend to agree with James..I am an Investor+Agent and I have been investing in Western suburbs for more than few years.