I want to buy the most expensive 1-4 unit property possible

[Tyler D.]

As in $2million or higher. I know, I'm an idiot. But before you pull out your pitchforks and tell me about cheap cash flowing houses in the Midwest, let me explain.

I have a VA loan that I want to put to work. Recently, the limit was removed, meaning that you can buy any property for any price, so long as you can make the payments.

As for the payments, you can use 75% of the rents in a multifamily property to offset the payment costs, meaning that if 75% of 3 units in a 4plex cover enough of the payment, you're golden.

Given that and the ridiculously low VA loan mortgage rates (30yr @ 2.25%) it makes sense to put the maximum amount of money to work in a single transaction, and I'm trying to decide which location and type of property is best for this.

You have the really expensive areas: NYC, SF, LA, etc. But many of these look unattractive for a variety of reasons.

Hawaii looks fairly attractive. The lowest property taxes combined with a location that isn't going to lose its appeal anytime soon 

Seattle, Austin, and stew other cities are also attractive, mostly due to booming prices due to tech that probably won't slow anytime soon.

As for the property itself, I'm leaning heavily toward a townhome/ rowhome-style fourplex. There attractive, and will likely be just as attractive decades down the road. 

SFHs seem like a listing proposition as the returns would likely be far lower than a nice fourplex of the same price.

So what are you thoughts? What are the best places/ types of properties for my strategy?