I am actually planning now for when my kids are in/through college and I am able to target larger multifamily projects in a wider geograhical area. 

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

For an unrenovated 1+Den/1BA LTR in our section of Northeast though, $1,300-1,400/month is certainly in the ballpark of what I could comfortably get with some very minor improvements to the space between tenants.So all that being said, I think your target of $1,500-1,600/month for your 2BR units would be more than doable. 

The bonds example was very helpful and made the concept much easier to grasp.

Once an investor understands that is a business transaction and is able to keep emotions out of the analysis, it is much easier to find, or more importantly, create deals.

They are stuck in 2014 when notes were so cheap and easier to make money: now pricing is tight and even just buying to resell is challenging.Note investing can be more passive than other aspects of real estate but still takes a lot of work as well as a lot of experience and knowledge as there are many moving parts that can go wrong 

I’m in the La Jolla area, but service all your targeted locations.

Personally hate the notion of using them solely because the loan process is "easier".

It is counter-intuitive, but more expensive homes is much easier.

Maybe you can expand on what kind of properties and price points you're targeting, buy & hold vs Flip vs MTR etc?