@Ron S., @Chris SeveneyThank you both for your replies, here's an update.

For me this involves making a lot of spreadsheets, but I will give you the outline.1)Establish risk capacity and tolerance: Capacity=how much can you afford, and tolerance=what you actually feel safe spending2)Use that information to narrow down what is available to buy: The amount will buy you a duplex in PB with 2 1/1's, will also get you a 4plex in Lemon Grove with 4 2/1's3)From there do the research on all of the available units that fit your criteria: This includes, but is not limited to, historical data on appreciation, market rents, historical rental data, and migration trends.4)Don't be afraid to wait for the right propertyI hope that I was able to simplify my process for you in a way that is helpful.

The market is promising, and my corporate accommodations can elevate your returns.

Quote from @Tony S.: Does anyone know of any good MF lenders in Albemarle, NC or Charlotte? 

@Bryan S., I always found that the steepest part of my learning curve as I transitioned from SFR to STR to Commercial land development and MF (all using 1031 exchanges) was learning what "didn't translate" from the prior type. 

Rates are around high 6’s to mid 7’s depending on leverage, cash flow, and credit.

Also, my credit is not the greatest (mid 600's).

Work with a broker that can shop the market for you and your particular situation(s).  

In the early 2000's I owned the highest grossing (per square foot) laundromat in Los Angeles county.  

Returns remain down, and cashflow opportunities are harder to come by.Top Brooklyn neighborhoods for small multifamily opportunities:East New York: 35 DealsCypress Hills: 33 DealsBedford-Stuyvesant: 22 DealsEast Flatbush: 21 DealsThe BronxThe Bronx featured more new listings compared to 2023’s first half.