One negative issue with this strategy is you have to keep looking all the time to grow your portfolio esp if you want to find them at a deep discount vs with larger multifamily you get a lot if doors at once

I've heard two strong opinions 1) it's a bubble, so let it burst and then buy the next home 2) it's the last bastion of 'coastal' cities that is still undervalued and the flood of money and people moving into the city will continue unabated even if rates go up.I tend to lean to #2 from all the metrics I can look at, so it seems to me that I'll slowly lose buying power if the prices slow and the rates go up. 1) Buying the big home now (talking around 700k for this area) seems like the easy way out, and I'll gain the appreciation on it.,....but be highly limited in any other investment maneuverability until I gain equity again.

I have had some success in the stock market looking for deep value "depressed" stocks.

Or houses in that area have been on the market between 30 - 90 days (Slow Market). 

waiting for upcoming sales in my area, going to jump into the deep end!

Most Flippers I know are not doing slow, highest quality remodels.

If you could 1031 into a multi-family unit, you'd likely get better returns.The market has slowed down, even plateaued in some areas. 

The turnkey provider is taking all the quick and easy profit out of the deal and selling you the long term slow drip profit if there is any.Put all your focus right now in learning how to find cheap properties.  

@Chris Nordella, maybe I am slow...where is the amount for principal and interest???

High price (relative to history) only means high price it can signal a slow down in demand but in reality it tends to increase demand because many people want to buy before prices go up more.