Austin, TX is a growing market, with a large amount of companies coming in and people relocating.

(Tenants are month to month and very under market) We are located in NY and with the current situation and restriction on evictions we are afraid it could take years if tenants don’t cooperate or can’t relocate easily.

There will also always be a large population of Hari Krishna up in the City of Alachua, and that seems to draw many retirees and younger professionals of that faith to relocate here each year.

In my case, I purchased my home and found out three problems when I got it appraised for the HELOC -- an unpermitted septic that was too small (cost me $15k) , the neighbor's playhouse was encroaching onto my property (cost me time and energy convincing my neighbor to relocate it), part of my garage roof hangs over the utility easement.   

I was actually thinking of relocating down there but maybe that is not such a good idea.

Plain is overpriced, with the market saturated with new families relocating, as well as some overzealous investors skewing the market pricing by paying too much.

I just bought a fourplex and literally the day after I closed one of the tenants had his job relocated.

-KevinThe fact is, buying duplexes or small multi-family does NOT make sense in all markets.If the purchase prices and rents are in line with what you stated in your post, you only really have 3 options that make sense: 1) don't buy a duplex, 2) find that rare gem of a deal (say a 200k duplex for 100k), or 3) relocate to an area where it does make financial sense. 

Was wondering if home prices in the bay area will get lower in the future or is it best to relocate to another area?

Nate it pays to remember that death, divorce, job loss, relocation, over extension of credit and obligations is a constant in society you just have to be in the right places at the right times to solve those problems as quickly, efficiently and amicably as possible in order to profit.