I have always considered it, something about showing someone their future home and walking them through the steps and closing just sounds so attractive to me.

Groups that have only networking as their focus tend to be small and frequently die out, since there is no attraction for someone to spend their gas and time. 

I guess what I am asking is, if I don't think now is a good time to be investing in MFR because prices are unreasonably high, what might trigger a pull-back to more attractive purchase prices?

If you have a process for attracting leads that's a good start.

It's packed into that neighborhood pretty tightly, so I don't think it's an especially attractive location.I wonder whether you could turn it into condos.

@Karl Denton a slowing market may not be the best time to invest in a questionable area.Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

I think side by sides are much more attractive.

The 9% interest is attractive and I like not having to deal with renters, pay prop tax and insurance.

For example, when I see breweries and vegetarian restaurants opening on not so sexy neighborhoods, I look for the distressed homes in that area to pass on to my investors because I am getting great deals and these restaurants are attracting buyers to the area. 

Its near a military town, so quite of few out of towners and tourists due to the bay and marina being so close.