I currently live in Palm Beach so I'm planning to focus my searches around Palm Beach County however I would be open to other areas if there are certain cities, pockets or neighborhoods in demand that are turning around solid margins and profits. 

Each strategy may demand the use of a few different metrics (cashflow, cash on cash, cap), but generally speaking there's a pretty short list of metrics that are used to perform a basic analysis of most residential properties, whether it's a SFR or a 250 unit apartment community.  

Yes, it is hard to find a deal, and the reason why it is hard to find a deal is because there is high demand and limited supply of housing, which is also why we have some of the best long term appreciation rates (of both prices and rents) in the country.

Higher home ownership and more competition from other investors increases supply and therefore decreases demand.

The Marine Corps plans to expand the base in the next few years so demand will increase.

After the recession I've talked to a few realtors and they all mentioned that the banks are demanding retail prices now and will not look at low ball offers. 

We need more builders to meet demand.

Sure, you may not get $300/night, but the homes are probably going to be much more affordable in an area that demands $75-$100/night.

For example, if your 4plex is 4000SF you can compare it to duplex #1 in unit size but because it's a larger building you can assume it'll go for $330K-$375K which is less than $400K (2 X $200K)Hope this makes sense.A word about market supply & demand: everything above is based on math and not emotion.

To summarize the presenter's main points:Since 2009 rental housing demand was outpacing supply until mid 2016, when supply finally caught up with demandNationally, homeownership is low which has kept rental housing demand upAs a nation, we are significantly under-housedAs the Millenials begin to get married and start families there will be a significant increase in demand for "work-force housing" or "starter homes."