My company owns about 3,000 MF units, along with some retail, industrial, and Assisted Living. 

@Jackson Harris as long as your definition of MF is duplex, triplex or quads AND your willing to live in some of the tougher (or at least, less desirable) neighborhoods AND you have patience your plan can work.

I always check active rentals to see what the competition is currently looking like for if a rental were to go live that month too.

Third unit is a studio/efficiency that I will live in. 

Start marketing and skip tracing the owners that live the farthest away because that is your best pitch since they are paying to manage.

If you lived in the property for 2 out of the last five years then you wouldn’t pay capital gains up to a certain amount.

Buy a property you could live in and be proud to own.

Even then, you can expect they won't be able to maintain the home to the same level you did while living in it.

They are happy to look further from where they live, in a better rental market, because they do not want to do the management.If this were the case, then as others have said a hybrid of a 2-4 unit might be the best place to start.  

The most knowledgable people on market rents are the prospective renters who are currently shopping around trying to find the best option for themselves to live.