In SW Florida, I expect prices to continue to rise for some time further squeezing out certain people from being able to rent in the more desirable areas.

Everything desirable is too high for me, since I would like to pay cash (max 250k)  (bad credit risk due to no income) Kensington seems to have some good deals.

@Andrew ChallengerOkay, now I see why sub-leasing might be desirable to have: to let someone else burn-off the remaining 3 months.I hadn't considered that the students might want to have their own room without a roommate.

Of course for multifamily finding a 9 cap on a stabilized in a desirable area is really tough.

I let the newbies and the poorer people tangle with the less desirable properties.

The investor must decide the desired cap rate and CoC return and whatever other metric he wants to use to decide the price at which he wants to acquire the property.

Look man, I understand your desire to change the perspective on those parts of town.  

Is it just a matter of finding a desirable area and being patient?

The reason its cheap is becuase its in lease desired location, but I could afford and the cash flow potantially is great. 

I desire to learn, to listen, to grow and in time contribute my time to others like myself who may need a hand up.Thank you for your advice and for reading my letter.God BlessSincerelyDaniel