We're looking at small multifamily properties, and so as the price goes up, rent per door can't keep up due to people's incomes not rising, so that squeezes the cap rates into undesirable territory for us. 

On-paper-cash-flowing areas can be usually undesirable areas, and this is true for DFW too.

If there is an area where all the homes are around $30k....that probably tells you A LOT about how desirable (or in this case, undesirable) that area is...

Are the cheaper homes backing a freeway, RR track or other undesirable aree?

James Wise, I don't know your heart and it is possible that you had good intentions when you wrote that article but please understand that labeling neighborhoods as undesirable for whatever reason can negatively impact the livelihood and well-being of the people that live there, plus it's illegal.

I don't like mobile homes because they don't tend to hold value, seen as trashy and attract undesirable tenants.

I would focus right now on getting a rockstar agent. the further you move away from the beach the lower the price but also be careful as some areas are not as nice as others and the last thing yhou want to do is buy in an undesirable area.

There are people who will say, it is time the wrong time of year, the house is not as nice as comparable rentals, the house is in an undesirable area, the pictures are not nice enough, it is not marketed on the right sites, there are too many rentals in the area and on and on and on.

The 50k homes are usually fixer uppers or just small homes or row homes, if this is not the case then its just a sign of an undesirable neighborhood (Wilkinsburg, Homewood, etc).

There are more multifamily units on the southside, however it is a very undesirable area imo.