It's been appraised at 80K and my wife and I are wanting to use the money to purchase a multi-family residence.I've been on bigger pockets for a while and listen to a lot of the podcasts, so while we're searching for multi-family properties I've been using property analysis spreadsheet supplied by the biggerpockets community.We're working with a realtor on available multi-family properties in our area and now my wife and I are getting nervous. 

We are down to 1.76 months of supply or -29.7% less listings than last year, for all residential properties in the market.Here are the March, 2020 Average price sold and % of increase by area.

Single-family home sales rose 8.2 percent year-over-year, with 7,566 units sold, marking the ninth consecutive month of positive sales;The Days on Market (DOM) figure for single-family homes was unchanged at 65 days;Total property sales rose 6.9 percent, with 8,965 units sold;Total dollar volume jumped 11.0 percent to more than $2.6 billion;The single-family home median price rose 4.1 percent to $249,900, reaching a March high;The single-family home average price climbed 3.8 percent to a March high of $309,785;Single-family homes months of inventory was at a 3.5-months supply, down from 3.8 months last March but above the national inventory level of 3.1 months;Townhome/condominium sales declined 0.5 percent, with the average price up 6.0 percent to $224,038 and the median price up 4.6 percent to $183,000;Lease properties experienced a mixed performance, as single-family home rentals increased 1.2 percent with the average rent up 2.4 percent to $1,788;Volume of townhome/condominium leases fell 9.7 percent with the average rent up 4.2 percent to $1,604.

With that said, below are some metrics I would focus on:Population GrowthJob GrowthMedian Household Income GrowthHousehold FormationJob DiversityNo New Supply Imbalances relative to current inventoryIn general, the Midwest is recognized as a strong cash flow market (but it is NOT risk free) with good deals in Ohio, Indiana, Missouri, Minnesota, etc.

During this pandemic, it will become more apparent that the affordable housing supply has been shrinking and the demand is growing. 

And dynamic pricing tools change the pricing of your unit based on supply/demand and local trends to help maximize your profit

Will your partner be meeting with contractors or will he be doing the entire rehab or will he be purchasing / delivering supplies?

The second thought was buying franchise in a small business such as an industrial supply company that he is already familiar with.

It's very hard to get anything built, which limits the supply, especially for new economy multi family units - Class C. 

I suspect when the quarantine ends and the held-back housing supply hits the market we'll see a dip in prices in the 2 to 4 months after that time... though there are a lot of factors that come into play that will dictate the actual outcome. (...consumer confidence, interest rates, local job growth, net population growth/loss, government restrictions, savings depletion, stock market growth, etc).