Use the information you have and determine what they can afford.

So I have my house that refinanced in 2020 for a 15yr 2.5% rate and we have about 56k equity. Purchased at 211k . We have an opportunity coming up from a family member who is willing to sell us my childhood home for w...

Focus on long-term rentals in affordable markets with reliable cash flow, and steer clear of high-cost flips, lower-class properties, or overleveraging in areas that rely solely on appreciation.Good luck!

The short version is that you want a strong and diverse job market, low unemployment rates, a growing population, low vacancy rates and new development, affordability/cost of living, real estate laws and court system, good schools, and low crime.Check out the videos from Dave Meyers with BiggerPockets.

My girlfriend and I are looking to get into Multifamily real estate investing and have also looked into the possibility of house hacking, although a good affordable property seems to be tough but not impossible in this area.

I use the property myself, but if I couldn't afford to keep the place vacant all year long I'd have been in trouble. 

Myrtle Beach area and clearwater florida are more affordable for what we are looking for. 

That's a gr-AI-t post. 

I wanted to start with a cheaper property I could reasonably afford and also learn from.

If you ever are interested in a more affordable market I'd love to connect on what the Midwest has to offer!