Certain areas in Hayward and San Leandro could meet most of your criteria but they are in the $1M+ range.

There are still plenty of neighborhoods where you buy small multi-family in that price range.

In Kansas City you can find properties with cap rates ranging from 5 - 7+Big difference in projected cash flows, and the most desirable neighborhoods are trading closer to that 5 cap rate. 

Once you know your price range and what you want to put down if using financing you can typically have a bank approval same day.Once approved if not paying all cash you talk with your agent or even self-explore and use the listing agent in most cases.

Rental rates are pretty flat in the Orlando area, and vacancy has expanded and you'll see rates in the 7-10% range, but it just depends on what source you get it from. 

Well I've had custom quotes ranging from 3k to significantly above already and it didn't cost me a dime to speak to their attorney. 

Select a larger area that is at least 30 minutes in each direction. with maybe a hand full of exceptions I am pretty sure you would be hard pressed to find a mix that represents the demographic cross section of this country and therefor a wide range of neighborhoods.

You can exit your hard money loan to conventional with lower rates + assuming you have the sufficient income to qualify.

Back in the day we carried a balance of $100,000+ that was owed to us and that is now down to only $10,000 or so and we only cover out of pocket if it's an emergency.The PM must have sufficient reserves to do the necessary maintenance work and shouldn't be chasing landlords for money.Just my opinion...Also, a PM's number 1 profit center is maintenance up charge.Landlords don't have much insight and PM's nickel and dime to death on those.If you are suspicious, ask for a receipt so they aren't making up non existent maintenance.Let them make their money tho and calculate that into your expense pro-forma.Otherwise, manage yourself and deal with the $#%^@ that comes with it lol.Multifamily in Ohio, you can get for $25,000 - $35,000 a unit.Drop another $5,000 - $10,000 into the turns and rents should be North of $800pm.Decent area's also.Personally, I wouldn't get out of bed unless I'm making the above numbers.Wishing you much success

When adjusting for the DP assistance you mentioned, you seem to be approximately in that range!