Excellent point, @Jeff KehlSo what is a good / more reasonable price point for buying houses to flip?

The article above suggests that rents are increasing faster than prices, which would lead to increasing cap rates.

Any suggestions would be greatly appreciated.

Since it seems like you are not quite in the area yet I would suggest following the Pittsburgh forum and setting up keywords for areas you are interested in.

Try to find a realtor who invests in real estate as well or at the very least works with other investors.Hopefully our fellow BP members can chime in and throw in some suggestions that I may have left out.Best of luck to you!

He suggested a contract for deed.

He runs an excellent PM company.

Hello, I am actively looking for a Large Multi Family Apartment complex either in Tennessee or North or South Carolina.I am open to other areas as well, but these are my preferred areas, the property I want must have the following capability,Room for instant/forced equityRoom for growth of opportunity, i.e. under rented, neglected or room for further expansionPreferably B or C+ propertiesI am not affraid of work, and in fact are one of those crazy people who likes a challenge, so I hope the BP community keeps me in mind, I look forward to your thoughts and suggestions. 

He suggested 4 suites (shopping center/strip mall) which would cost $35 a sq ft (not sure if this price is good or bad) to build.

Can you kindly suggest any reading material that have helped you understand deal analysis more.