Massachusetts Multi Family Investing Help

[J K]

All,
First post for me but from what I have read thus far, this forum is great.

I live and work in Massachusetts in the Financial Service industry and have amounted a small (>100k) in cash over the last couple of years. Over the past three years, I have been wanting to purchase a 3 family home as an investment. I do not plan on living in the building, but renting the all three units. Im not in a huge rush to purchase, but with the decline in the overall real estate market, I am starting to see multi family's for prices they haven't been at in 5 or so years.

The short of it is, I am looking for advice on purchasing multi family's for a long term investment. I have the financing all in line so Im looking more advice on what to look for in a multi-family, where one could run into issues (zoning, repairs, etc) and what is a good annual rate of return on the rents vs expenses.

All and any advice would be appreciated.