Cincinnati Ohio is great since that's where I invest in :)Rents are increasing, cap rates are still high and still getting compressed so there are still MF opportunitiesThere's a report in Washington Post that says that by the year 2040, 8 states will have 50% of America's population.

As the prices get bid up the cap rates get compressed.

I know California as a whole is a compressed and tough market to invest in, but was curious if there are any investors out here that have had some luck with it.

While much more complicated than this, I believe it boils down to fee compression occurring simultaneously with expanding education hurdles and increasing oversight/regulatory requirements (i.e. more work & liability).

This was a primary residence that I turned into a rental so the timeframe wasn't super compressed.

There is a lot of cap rate compression in our market and it can be difficult to find a property that cash flows unless you are putting down a larger down payment.

Air compresses and causes pressure fluctuations. 

A lot of compression occurred through bunching up and room mate situations.

So, in my area cap rates are pretty compressed anywhere from 3.5% to 6.5% for less desirable properties. 

The simple fact is the yields/returns that could be achieved with relative ease 2-3 years ago have compressed 100-200 bps.