I do know of some property management companies that present inflated numbers, so I would caution anyone relying on this info. 

Pundits Unanimous across time - Crash is 12-18 Months Away from this moment"2013:Denver Post: “Buyers Caught in a Price Squeeze”CNBC: “Housing Market Already Shows Signs of a New Bubble”2014:New York Times: “The Bubble Is Back”Fortune: “Why the Housing Recovery is over, in four charts”2015:CNBC (Again): “Housing today: A ‘bubble larger than 2006’”National Review: “We’ve inflated another bubble; count on the crash.”2016:CNN: “Housing bubble fears have returned”MarketWatch: “The Seeds of the Next Housing Crisis have already been planted”2017:Forbes: “58% of Homeowners Think The Housing Market is Set for a Correction”USA Today: “Hot Housing Market Could Cool in 2018”2018:Bloomberg: “This Rare Bear Who Called the Crash Warns Housing is Too Hot Again”Business Insider: "A Major Home Price Index is Now 10% Above It's Peak Right Before the Financial Crisis"

House appreciation- Both forced through improvements and natural with appreciation and rising home valuesAND2.

So did a cash out refi of 80% to utilize the equity I have to pull out large down payment for an over inflated market we’re 3 families are going for upwards of over 850 to 9 with good rents or take it way outside city for smaller rents but smaller prices for the property 

The project is a mid-rise new construction.Do you recommend them and do they affect your project schedule?

I'm not hell bent on investing in STL but from my understanding certain areas are on the rise.

For example, some high rise multifamily apartments in A+ locations in manhattan may go for a "2-3 cap" or a 2-3% return if the property was bought all cash.

The area is still very inexpensive but on the slow rise. 

- the price indicates that the market appreciation is unlikely to keep up with inflation.

The city/county plans to tax the asset for perpetuity, usually to pay for infrastructure, OR to pay inflated salaries of administrators and city officials and further grow a usually  inefficient  bureaucracy.