@Brian PownallExcellent data, clearly shows cap rate decline and cap rate compression.This cap rate compression does not impact my investing strategy.My strategy is based more on investing where I have a competitive advantage than relative cap rates.

My only problem here is the 300k in mortgage payments burning a hole in my pocket before I have a property locked up, which we know in this market, it is very competitive and who knows how long it could take to find the right commercial investment.I'm wondering if any of you have any 'out side of the box' suggestion on how to finagle this HELOC cash as a down payment without first committing to the locked in 30 year FIXED mortgages? 

The higher price points have less competition since there are fewer qualified buyers, but it's still tough nonetheless. 

If so, this is kind of the secret sauce that people don't usually share with others since the better your model, the better competitive advantage you have.In addition to the numbers, there is definitely an "art" component to note evaluation, which comes from experience and one's take on the current market.As far the raw data, you should be able to get that easily from tapes of notes for sale.

Problem with FHA loans in spring of 2021 is that you loose pretty much every competitive deal, which leaves you with property nobody wants (for a reason).

I know next to nothing about that, but I will investigate with my financial advisor.1031 into a new property sounds difficult because the market for multifamily properties in Pittsburgh is extremely competitive right now and there's not a lot of inventory.

The competition for distressed properties is fierce right now. 

It's happened to all of us in one way or another, hopefully this is the most expensive mistake you make... and hopefully it's a really competitive market when you sell.

I have considered looking into other areas in my state that aren’t as competitive, but have also been intrigued by an out-of-state rental.My question: what experience/thoughts do others have about purchasing a property in a vacation area that will serve as an occasional vacation home for my family and myself and but will primarily serve as a rental - not sure if there is a term for it, but minimum one-week rentals and ideally snowbirds who will rent for a month-6 weeks or so during the high season.In my very preliminary research I have seen there may be some additional tax considerations but I’m wondering if this ever makes sense?

What happens is, that anything that doesn't look appealing to the buyer would generally not interest most buyers even in such a competitive market because the competition only starts to build on something that's appealing.