Strategy for Buy and Hold

[Kelli Van Doren]

Hi,

I am a new investor looking to buy a property to rent out. I am trying to figure out my niche. I have looked at duplexes, single family, college rentals, condos, 4 and 8 plex and a small office building.
My questions:
1. Do you think it's better to have 2 or 3 single family houses or one larger unit like an 8 plex or office building?
2. When I am running numbers, do you recommend using 20 or 30 year loan for the mortgage?
3. Should I try for newer properties with lower cash flow or start with whatever has best cash flow numbers?

Thanks,

Kelli