After you find a great realtor, I do recommend getting pre-approved asap so you can be qualified for financing and know exactly how much you can afford for a property.

But if the situation arises I can't afford to have a tenant fall back 2+ months on rent.

Non-passive to achieve this level of return.Add the addition of the ADU makes the main unit rent controlled if over 15 years old.the work to add an ADU likely exceeds the effort of a brrrr that can achieve infinite return  Experienced investors are adding multiple ADUs by leveraging items like bonus density, committing units to affordable housing, etc.  

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.

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!

Shelby Park is getting a facelift from many investors (myself included) and Smoketown is the next neighborhood in line if you're looking for an affordable price point with future growth.

Cash flow is hard to come by and I have considered looking elsewhere in more affordable states.

Housing is still affordable compared to other markets, which keeps renters and investors coming.

my next step is to find the best and most affordable market for my investment!  

Not the cheapest 25% or the most expensive 25% but I’m the middle, where people want to and can afford to live.