If you have someone you can trust on ground that have equity together with you on the property, flips can achieve out of state .

You will not achieve positive cash flow therefor all you have is speculation on appreciation.

Whatever the mind can conceive and believe it will achieve." 

There is no possible way to achieve a guaranteed $300/door as you now believe you have.

There, I'm finding many opportunities for SFR's and small MFR where I can achieve 10%+ COC returns via primarily a buy and hold strategy, small rehabs if needed. 

I am grateful to see other new people on the path to achieving their goals.

I want to learn your goals and your action plan for achieving them.

If you put stock in CAP rates (I don't) you are looking at below 5%.Additionally, you would require a larger downpayment to bring your Break-Even-Ratio (BER) below 85% and your debt coverage ratio (DCR) over 1.25 (in my experience, commercial lenders like to see 1.4 or better).While market rent may be greater, remember you are paying for the current performance of the business, not it's potential -  which will require further work and capital from you to achieve.  

@Marvin SillsMy recommendation is to write down your goals then focus on achieving them.

Also, 10 year old renovations will most likely not achieve market rents, which means that any buyer will need to invest in renovating the units)Is the basement unit a "legal" basement unit?