Additionally, Capitalone dropped me to 4%, and I think Amex might have lowered me to around 4-6% too.

Will I have to significantly drop my rental prices to compete even if I'm priced lower?

Another thought is to look for listings that have been on the market a long time and/or have dropped consistently in asking price.  

There are deals to be had for multis off-market with an agent who knows how to find them or via REO and foreclosure before they drop, but on-market multi deals are hard because there are SO many people bidding on them.

Shes a little freaked out and thinks this is just another "fad" for me to pick up and drop like ive done in the past.

However, for a multi-family  in those neighborhoods, you would have to wait for prices to drop.

I would encourage you to drop by a few meets to get a feel of field.

I encourage you to drop by a few meets to get a feel of field.

If you ever want to talk about the LV market, drop me a DM.

I normally will list them at full ARV & if I don't get a lot of interest within first two weeks, I start dropping the price or offering seller financing.