Owning multiple types of multi-family rentals (Class C and B for now), I have a good grasp of the value, in addition to just public rental data, so not really a problem for me.

Even back then, however, I operated with a Plan B in place. 

Also, if you come across any small multifamily, in B neighborhods, let me know.

@Joe Villeneuve, they weren't talking to me, but I thought I'd ask about it b/c I'd never heard that said before.

b) How do i get started (like find properties that fit my criteria/constraints and then vet them, given I will likely be out of state) ?

Here's some food for thought:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Quote from @Chuck B.: It does seem pretty busy around the ‘ville! 

Quote from @Bill B.: Personally I think $1.05 is not a smart listing price.

I think most of the ones I have come across are either a) Very well off, and diversifying, or b) much later in their careers and they are using a vehicle they know (RE), just in a more passive way. 

But just be aware that the property taxes are hard to control, and you would want to fight them every year (b/c the appraisal district will likely increase your property valuation every year).