This market is booming, and as many have said, deals can be challenging to find.

I want to be very intentional on location and land properties/units in grade A neighborhoods (or pretty close) and where economies are booming.

Charlotte is booming, Asheville is hot, and the surrounding areas are suffering from a rental shortage. 

I recommend the major cities in Ohio:-Columbus, great for appreciation, pp is a bit higher around $220k for multifamily-Cincinnati, has a mix of cash flow and appreciation, average multifamily around $180k-Cleveland, has alot of cashflow potential, average multiform around $140kThere are other smaller markets like Dayton, Akron, and and Newark, which we are starting to see these areas boom due to huge investors and corporations like Intel choosing to set up shop in these kind of areas.

I have gotten wholesalers send me deals with comps that are clearly from the boom days of 6+ months ago and the current market would not support them.If you use price per sq. ft, be sure you are comparing apples to apples and not bananas. 

I sat out the pandemic boom because I'm a creative finance cash flow investor.

I live in a so called "cashflow market" (Milwaukee) and have always made a lot more on equity than on cash flow, even before the last 3 years.But I also know investors who have grown and managed a portfolio "city cash flow properties" for decades and have almost nothing to show for - because capex exceeded cash flow.High appreciation markets are also risky to invest - while I feel very strongly about that market not going to crash as a whole, I am not so sure if markets like TX will not come under pressure after the exuberant gains of the last years.The Midwest is the only region left with an affordability index over 100 (median family can afford a median home), so just like communicating vessels in physics we may see a market rebalancing, where remote workers will move to where living expenses are affordable (not only housing) and boom markets will see an adjustment (not a crash).And even if you are an apartment syndicator, you need cash flow to boost NOI - there is just no way around it.

If you're looking for a high growth area look no further than middle Tennessee, Memphis is still a little behind but Nashville is booming and with it the surrounding areas up to 30-40 miles away are viable rentals.

Be it local or national, there will always be peaks and valleys, booms and busts, a lot of people moving to an area, people moving out of an area, etc.

Not sure if it's the property manager or possibly the owners fault but how can you have a rental property listed and as soon as you walk thru the door...boom "Pet Urine".. disgusting.