Is buying Multi-family properties still a possibility for newbees

[Sarthak K.]

Hello Everyone,

I am a first time investor and have recently joined the forum. I am based out of Ontario and I am currently exploring potential opportunities for investing in a multi-family property in Ontario. But anywhere I look (within GTA/Kitchener/Waterloo/Cambridge atleast), MF properties will cost around $800K or more. Is this reality of things right now and I should accept that I have been priced out of the market? 

I am on a first time investor budget of $120K down-payment max looking for cash flow positive rental properties but it is almost next to impossible to find one in this market. Does anyone have any suggestions/advice? Should I just take my money and invest in SP500 where I might get 7% returns every year?