Due to the rise in cost of labor, and as a result the cost of new construction, it is not as attractive to build new multifamily properties.

How do you attract investors with a deal if you can’t put an offer out there to show what the seller is actually willing to accept?

@Stefan D.I agree with the main consensus which is do nothing and rent it.However, if by upgrading you can increase the rent substantially do it.Additionally, better units attract better tenants and possibly less turnover, maybe more lease renewals.

What attracted you to them and what cemented the decision to move forward with them?

But frankly, in my opinion, buy and hold REI is not as attractive as it used to be in most markets. 

Or if not, how much would the market have to come down to make it attractive again?

I think part of what is happening in Mississippi is that the rent income relative to cost of houses is so good it is attracting an awful lot of out-of-state investors who have trouble finding deals elsewhere.

It seems like the cash flow potential for the price that you pay is certainly attractive.

I got an email not too long ago from Zillow it said my home was worth a lot more than I bought it for. my mortgage has a very attractive fixed rate so I didn't want to refinance my house so I started looking into other ways to utilize the equity to invest.

But the areas I found attractive are Indiana and Tennessee.