Investment Firm Buying now, Why?

There is an firm, maybe an RIT, buying property at top dollar in my area the last few weeks. I;m talking multi family, distressed very old SFH and more. This is probably the best seller's market in my lifetime so I'm personally selling. What would be their motive; 1032 money to unload, depreciation angle? I have always started with a 2% rule strategy as my floor when looking for new rentals. These properties with the soaring prices are less that .5% even lower. What am I missing. Seems like short selling in real estate.