You have to be quite selective and in some cases make some changes to the property to make it cashflow (ie add a garage, renovations etc).

Seems simple but it's highly effective.

On average, the profits from such a strategy might be higher in Boulder than all but a select few markets in the country (maybe certain parts of SoCal offer slightly better opportunities?). 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

However for the most part I can get 3-4 units for the same price as a SFH which is just more cost effective.

This strategy is more effective if you qualify as a real estate professional.

Find the lender, agent, whoever that meets those values, then execute upon selection.

Better tenant selection and regular inspections will stop this from happening.

This is a personal liability policy that goes into effect after the personal liability on your other policies (car or home) is exhausted.

We added some custom details to the property to make it more appealing for our tenants as well as manage the property effectively and efficiently so that our tenants always wish to stay residing in the property.