They have a smaller pool of potential buyers and they only appreciate based on the ability to improve the cash flow (raise rents). 

Leave me some comments if you'd like.Asking Price: ~$200,000 (willing to negotiate)Terms: 30yr amortization at 3% which raises after time (rate/time negotiable) with a 15yr balloon (also willing to extend if everything has went well)Mortgage Payment: 843.21 (this is with 3% FIXED rate, so in reality, at some point it would be higher)Monthly Rents: 885 + 865 = 1750/moVacancy: 8.5% (seller says 0 vacancy)EXPENSES:Insurance: $41.66/mo  $500/yr (actual quote: $494)Property Management: $175/mo (would be managing myself, but always build in property management)Repairs and Maintenance: $300/mo ($150/unit, although the house is in great shape and will not need these kinds of numbers for some time)Property Tax: $291.67/mo (a touch less than $3500/yr from tax records)Sewer and Water: ~$50/mo (utilities came to roughly $43/mo on avg.

Then they have to raise rents.

There currently is a developer raising funds to revitalize the Portland area in the coming years just as he did with "NuLu" district so you'll likely see more and more investors eating up property while it is still dirt cheap.

I will raise them as of January of 2015.

The rising tide raises all ships!

Find out how to raise money?

I was born and raised in India and moved here after high school.

My point is that it seems like the only affordable area for the Brickell young professionals who want to raise a family in a house vs condo, and stay submerged in the area, seems to be Little Haiti.

I bid the first three times, stuck to my top number and stopped, I then watched the bid get raised right before the auction ended.