I'm a prospective investor and hoping to enter the multifamily space in the near future.

I also live in a very difficult market for cash flow, yet I know it very well and appreciation prospects are very good.

Auctions are for experience cash buyers. 

are you referring to a motivate seller that would be interested in entering into a lease option with a tenant buyer?

The buyers were cash though and we had a good idea of interior condition from looking thru the windows. 

This gives out of state/remote buyers a much better idea on what they're looking at and eliminates the need to set up pointless walk-throughs with folks who aren't serious. 

So I have a deal where a lady has put a buyer under contract and she says she common law married to the decease guy.

I built / or should say I refurbed studs out a 4 bd then built a new 4 bed behind it.. last year and that sold for 1.250  buyer is renting it by the room to collage students.. that's quite popular there as well. not as profitable of course as the air bnb..  

You work for buyers instead of the sellers. 

With this said, it's looking less and less possible to go the FHA route and have the following possible conclusions:Multifamily property values are reaching their peek (at least in my prospective markets; surrounding the Chicago MSA)Investment properties on the MLS suck (lack of a better word)Finding a property that works via FHA route is a diamond in the roughOverall, what do you guys think or recommend?