I think investors are hungry for multi-family properties of all kinds for two major reasons.

Vegas has been nothing near a smooth ride and even with the major push from the former Zappos CEO many of the startups he bought in seem to not be doing very well.

Basically, I've had the initial conversation with them, asked about their houses condition, and the majority of these leads are folks who want retail for their house that's in need of extensive repairs.

The house was built in the 70s and doesn't need any major repairs but could use some updating.

My agent friend made money from buying properties for him but made very little from selling the units cause the majority didn't sell.3.

As long as the property is performing, the vast majority of the time, you are better off doing regular maintenance vs. waiting for something to break / fail be a problem that could escalate to a crisis (nothing like a sewer line back up!).

I am a three your major in self directed studying of Real Estate investing.

My mindset is that it is low risk when the majority thinks otherwise but I have many years of experience in Detroit.

Simple, the majority of renters (48%)  reside in the city and the vase majority of people in the suburbs own their homes. 

You are all right in the sense that if it's a major job what was once a promising little cashflowing property can soon become a money trap or worse, a black hole for my money.Cheers!