However, something to consider is that in midwest markets, big multi family properties tend to attract lower quality tenants.

You can make some decent money part time, but to make the big bucks, it's work work work.

There are lots of multi-fam investment pockets in the greater Boston area, some really great to live in, but really depends on your financial situation / down payment.General advice- The vast majority of multi-fams in the Boston area are very old builds.

When you are at that point, spend a few bucks and sit down with someone that will create a structure specific to you. 

., for house hacking, or should I invest in a multi-family property and renovate it into apartments?

It helps you establish one economic unit to meet material participation hours.If you are in higher income tax brackets, I suggest getting a multi-member LLC for audit protection.

I have some experience in multi-family fix and hold but am new to new construction (ground up). 

The multi unit works better for financing due to ability to use rent from the other unit to meet income requirements on the loan.  

the buck stops with you. 

I am looking for a small Multi family rental.