Whenever I can type the words "demand is up in all sectors," it's a happy day for me, and for anyone interested in real estate investing. The numbers that have been coming in all summer on prices, rents, and occupancy rates are as good -- better than what we were looking at back in 2007 before the recession hit. In fact, Capitol Market Research is putting the occupancy rate at 97.8 percent, which is a record. Investors are coming into Austin from all over the country.

But before we completely jump on the optimism band wagon, I do want to pause just a minute and talk about due diligence. Only a small number of multi-family units are up for sale right now, and it's more important than ever to know exactly what you're buying. I'm seeing investors who have…

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