Cash flow in the short term would be nice and allow us to live a little better life style theoretically but in all actuality I’d probably stash the cash to buy more properties.

Great neighborhoods would depend on your style of living, if you have kids, etc. etc. 

Can anyone provide me with an example of an effective letter used to approach an owner of a 6-8 door garden style apartment complex?

The environmental variation is matched by very few places (ocean/Beach, mountains, desert). 

@Donald Coleman depends on your learning style but I’d highly suggest in-class at your local organization of realtors office.

I can imagine a 1920s style home had its charm.  

The place smelt like smoke, has 1970s style wallpaper, needs new floors and paint, complete bathroom reno, needs new appliances, and new electrical outlets. 

And if you're serious you'll modify your life style short term to create some funds to get started. 

When I graduated college my father was into comm'l real estate and was a licensed broker and he taught me a little bit.The main thing to do is to educate yourself and once you decide what you want to do, focus on that style you pick out 1 or 2 areas and make sure you know them well. 

Style and age are different.Are there cash buyers that buy this stuff?