Rentals are easier - 99.99% of the time you should avoid corporations (C or S).However, profits from flips are subject to self-employment tax in addition to ordinary income tax.Depending on your situation, an S Corp could benefit you but you have to weigh the costs (separate tax filings, payroll costs, possible reduction or loss of Sec. 199A deduction, possible higher annual fees/taxes, etc.) vs. the benefit (avoidance of self-employment taxes on a portion of your profits).My advice would be to consult with a tax professional and attorney first to ensure you're setting yourself up correctly from the beginning.

I expect that trend to continue, do i think cities will be decimated, no but around the margins i would bet on suburbs and exurb's. 

Norristown has high taxes, so Philadelphia may be a better bet. On

What real estate class are you targeting...D, C, or B? 

You will find that getting good financials and even access to the units will prove to be tough and also that many are charging below market rents still, so that may be something to consider when analyzing properties.Tampa overall has many more multi family units than Orlando, but also more areas that would be considered C or below areas, just find an agent that is familiar with the specific area you are looking for.

class b / c or war zone?

I am looking for B class areas with a C or B property.  

How much you want to "bet" on you being able to do that is up to you.What I would do in your shoes is look at the current (open) unit and ask yourself what it might cost to "spruce up" something with that layout, square feet, etc. 

Those turn key owners if they do not have adequate reserves will lose the properties with defaults and get mopped up on the next down cycle by heavy cash reserve investors buying at a discount.Focus less on the price to purchase and more on the quality of the location and property long term especially if you already have cash today but limited time to deal with headaches.Example a doctor buying a C or D area turnkey just because it is cheap for 100 a month cash flow when they make 300k or more a year and be inundated with problems and requests from lower income tenants just does not make sense to do.

In the Philadelphia market, most of the time a 130k house vs a 90k house can be the determination of a C- market vs C or C+ market.