Thoughts on purchasing apartments in DFW right now?

[Tom Lafferty]

I'm looking at properties in DFW in the 60-100 unit range. Considering that the apt market is pretty hot right now, what do you experienced guys think about buying right now? I don't think the apt cycle is at its peak, but I sure don't want to be the guy that bought high and cant refi or sell in 5-7 yrs due to lower values. I'm making all my projections very conservative, and I guess the last drop was so severe it may not be a good example to use, but it sure is hard not to think about it....