(Minimal competition, high demand, and 20 year operating history with repeat & longterm clients) Agreed!

There are a few properties in the Midwest that manage to generate cash flow, although the appreciation is minimal—this is about the best scenario you can expect.

With the newer 5% down conventional loan for owner-occupied multifamily option, I generally advise people to start analyzing from there if they want to house hack a multifamily with minimal down.  

It is not uncommon for syndicators to list properties they were passive LP investors in, and for sure to list properties they were/are also a part of GP, with limited/minimal active management roles.

This approach will help minimize the potential financial risks associated with renovations and working with contractors.

In France, they sell wine.They identified their customers (in your case, reliable tenants) and provided what they wanted to buy (rent).SummaryFollow this proven, step-by-step process to maximize your chances of success and minimize risk in real estate investing.Has this process proven successful?

Frankly, you sound like most operators of these investments... promising sky high returns and minimal downside risk.

Note I strive to minimize cash flow because it gets taxed versus other RE return are easy to defer or avoid the taxes.  

This is a minimal request (in my opinion, especially if you're paying a premium) and takes no time to do. 

My gross income is a bit less than $7k (and I'm renting near top of market rates) with minimal repairs ($2k/y), but...1.