I think that's your opportunity.Be Accessible - Closings are nearly always time-sensitive.

There's duplex up the hill near Safeway that seems rundown/poorly managed with good rehab/value add potential.

So you purchase a 4 unit RE at or near market price with rents below market. 

Pick a mature urban or near-city suburban area that is complicated, where neighborhoods vary significantly street-by-street.2.

However, when looking for properties in downtown Austin near my work, my wife and I have been facing several challenges due to the high prices.We first wanted to buy a small multifamily home, but the prices for these would be beyond want we could afford month to month if the other unit(s) sat vacant.

I would only do it on a sub 30K home that wasn't near a school, nursery, playground, etc.

Especially when there is constant construction of huge luxury apartment buildings.

Near the end of this project, I'm going to send my guy over to her house to install a new toilet because she mentioned that it's the only thing in her house of 30 years that is currently giving her a problem. 

.  (* of course hip urban areas or nearly brand new with lots of amenities would be exceptions to the KC or midwest rule imo)

While I do think the area will continue to appreciate we do seem to be near a peak.