HML is expensive and it is only for 12 months. 

Concessions could be utilized in a greater percentage of transactions as buyers look to reduce out of pocket expenses or offset costs to their representatives in instances where seller paid buyer commissions are not an option.High level, in the immediate future I don't think too much changes (beyond mechanics) for spring transactions.

Instead your 'expense' is RECOUPED in your sale price once rehabbed.

I thought at this point in time it might make more sense to start investing in RE projects that can offer above average returns ( 10+% p.a.) with relatively low LTV's and first lien positions. 

If you are wanting to take the time and expense to mail people, I'd spend DAYS scrubbing list of people to mail to.

How do I go about looking for multi family homes in this expensive climate? 

One thing I liked before the redesign was that they gave numbers based on the average, upper 25% and top 10%.

That might work for a DP in your market, but you’ll need to consider additional reserves, expenses, maintenance, etc.

Average costs agents charge will rise 20% over the next 3 years. 

The truth is that finding the right contractor is a painful and expensive process.