One reason that the property was listed within our price range at all was due to the fact that the previous owners performed limited deferred maintenance on the property and were eager to unload the property due to a dissolving partnership.

Our prices are steadily (or actually rapidly) climbing, but still not anywhere near NYC or surrounding area prices.  

Interest rates are not going down and home prices are not going to skyrocket.

Zoned commercially for a 4-story building, currently a 2-story buildingI'm not so concerned about the pricing here, rather just looking to get local, hands-on knowledge and expert insight into the area.

A good real estate agent that works in your market should be able to help identify desirable neighborhoods, as well as realistic prices.

Landlord policy's have gone way up because most carriers are no longer writing landlord policy's in Texas because of the billions of pay out due to hail storms. https://www.restoremastersllc.com/hail-damage-statistics-in-...So, supply and demand of course push's up prices. 

I just think now may not be the best time to buy multi-family in formerly Hot markets, like Austin MSA, that are clearly going down in price.

Prices are still at a point that you will cash flow a good amount.

When you do the math, $60K X 3 Properties = $180K in total purchase prices X even 80% LTC (max) = $144K.

Prices are all over the place and so is quality.