It is disheartening to hear about waiting for another year or two to invest, but I do agree that the market is hot for sellers right now; I'll still be on the lookout.

I know the market is hot right now, but I see north and east Austin are really starting to expand into the rural areas.

If I am in no hurry I just give them a slot to do it in and they use it for fill in work.

For developers in Denver, City of Denver recently came out with some recommendations for tackling slot homes and rowhomes.

I just sold a SFR rental property for another BP'er who lives out of state - we just went on record at the Registry of Deeds a few minutes ago.I knew that the market was very hot in Quincy, MA where the house was located, so I set the listing up specifically to orchestrate a bidding war, using a combination of timing and strategy.I got about 65 people through a 2-hour open house. 

(RD has more hot listings, though not as many as Fed Hill and its surroundings.) 

Say they took 3 clients through the property and one purchased (hot market).  

In a hot market like his, off-market deals are about the only way to find deals which will work out, in any strategy.

Depending on your goals and price point, I will advise you to better buy condo units in up and coming areas in hot markets in newer buildings with low monthly assessments.

Only big picture people would ever consider not getting every dollar of cash-flow possible into their hot little hands, waiting instead to see how it will impact their tax burden for that year.