They're inheriting wealth at a rapid pace and buying houses!

As @Greg R. and @Rick Martin stated rents and values increase rapidly because population is growing and its just super hard to build new inventory to curb the demand. 

It's another program targeted at community development but can be very lucrative in a neighborhood that is on the cusp of rapid development since if the Building was worth $3M 10 years from now that would be the new basis at sale so you would have no Federal Cap gains to pay.

Depending on the area you are looking, that place is a $60-$90 a night with 30% occupancy....or less.Just a quick scan of VRBO and AirBNB show that type of place is not going to cover your expenses.

The middle tiered one only has one advantage to me.. infrared scanning.

Like you said, deals are still out there, I think you just need to get a little more creative than scanning the mls to find them. 

I have an accepted offer on a duplex and i will be getting the home inspected this week. is Infrared scan recommended for hot/cold spot detection?

on the flips side I made a 500k flip fee on a 14 lot development.. but I did put up the 50k EM and I did spend about 75k getting it pre plat approved.. then builder closed once all appeals were exhausted.. but I was also prepared to close if he tried to back door me or go around me.. which is not uncommon when you get into the bigger money players.. at the time I did not even realize wholesaling was a thing or you would call it that.. maybe it was a development wholetail since we did put up 125k of risk money :)on the one I just paid the 125k to someone else we have an offer on the table right now from lennar which is a 1mil profit. but again I put up by the time its done 325k to get there.. the mil we get our 325k back then a check for 1 mil if the stars all align .. we could lose 325k also.. rapid appreciation like this I guess those that call appreciation gambling maybe that's exactly what it is... gun slingers.. take me a long time to make 1 mil in a year owing rentals though  LOL..

So the investors I pitch to are the one's who I know have the cash, credit, lender relationships, and processes in place to get the deal done rapidly. 

Once you have a full report you can run a few simulators like "rapid rescore", "Wayfinder" or "Credit Wizard" these are all tools most banks and lenders use to help a borrower see what can be paid down or off to get a specific score.You also have options to inquire about "Pay for delete" collections and check you statute of limitations on collections based on the state.