All but one of the family members are on board, and we collectively own the majority, but it's 55% and the bank requires 60%.

The valuation and market value of a multi family property differs from a single family and you want someone that understands the distinctions if you go that route.

Illinois--Single family house 360k asking- built-1920s-told that it will need repairs.

We have two multifamily properties and 3 single family properties. 

I am invested in a small multi family in TX and the management was not able to fill the property and do repairs and the income has dwindled badly.

To answer the first big question in your post — single family vs multi-family — I am firmly in the multi-family camp.

It does beat the expected inflation rate of 2% set by the Fed.Rents will remain about the sameWhat’s interesting is they also expect:A 11.7% increase in existing home inventory followed by Single-family new home starts growing at an impressive 13.8%. 

The way we have done it is to borrow from my 401K, when I pay mine back borrow from hers and repeat this cycle so we always have one we can pull from. 3) This option will be controversial but I have taken out private money loans with family and friends. 

This will avoid the asset having to go through probate and any 3rd party (family) related issues.3. 

Eventually I want to get into single family and multi family rentals.As far as effort or work on the fixers;  my brother in law is quite handy and my next door neighbor has said he would help in anything that is out of my scope of expertise.