I'm from north NJ looking to invest in a commercial multi-family property with 30 to 40 units and was considering Jacksonville FL after some articles I had read for 2017 trends.  

If you review the MLS comps you would notice an upward trend over the year ranging from  $121 Sq ft to upward of $146.

I don't know if this is where I need to ask but is there anywhere I can look to see how the housing market is trending?

With inventory trending lower I am trying to diversify a bit.

You may consider an area like Walnut Hills that is trending upward and could become the next OTR if all goes well. 

I will run through the math with them if they want, estimate repairs with experienced eyes, explain the market trends, and really so much more. 

We use a software system called Builder Trend so that each and every investor can track the progress of their property. 

Looking at public records for these 4 plexes (there are probably 30 or so in the area) the sale prices are all over the place regardless of the year sold (there is no clear trend of values going up or down) so I suspect they are generally selling based on income, condition and motivation of the seller.

You can easily hedge for it by buying intelligently, taking advantage of micro-trends, remodeling the property etc.Depending on how quickly your coffers refill, I would tell you to buy in a market that will provide good return on your funds, and to keep a close eye on your CA market until this next down cycle has played out (maybe 3-4 years?).

I'm the inventor of Bollinger Trend PRO forex indicator for mt4 trading platform.