I just created an income producing asset creating $600/month in positive cash flow with none of my own cash invested.  

And if you're investing in a syndication that typically produces K-1's late in the tax season (such as a GP fund) this can make things very tight and/or cause extra tax bills from having to do estimates extra tax work with your CPA.  

Fortunately the appreciation has produced outstanding overall returns.  

To your second part of the question: Most multifamily will be tenant occupied, which means they are producing income.

Can you offer tips that aren’t going to produce properties that are on every list imaginable?

You will want to run projections on each individual property to ensure that it will produce enough revenue during peak season to cover your low season months.

The property produced $48K gross over the past year.  

It's not often that a low producing property recovers that much.  

Start a business that produces cash flow. 

Had not done a cost segregation study when I purchased these two homes, but understand you can calculate a value  to write off so you are not depreciating two roofs...using salvage value or producer price index.