Small multi-family is hot right now due to house-hacking (low barrier of entry), and future cash-flow. 

Most of my CFO clients that are in residential development are looking for IRRs (usually over a minimum 5-year period) in the high teens and the commercial developers are looking in the low to mid 20% range.

We look for good school systems, low crime and desirable neighborhoods.

It allows you to take advantage of a low down payment loan.

Start networking with other investors to increase your access to real estate deals.Put your house on the market yourself on Zillow and Facebook marketplace and see if you can sell it yourself as a seller finance deal on what is called a wrap mortgage; especially if you have a low interest.

I don’t want the property to appraise low and not have enough money to get when I cash out.

Why do you put a window that low in the bathroom? 

Quote from @Fernando Martin-Gullans: Hey y’all, I’m a retail investor with 2 SFH rentals worth a combined ~$650k looking to utilize some of my stored equity to buy more out-of-state properties, but I’m not quite sure how best to proceed given that my interest rates are incredibly low (leaning me away from refinancing) and neither property is owner-occupied (which I believe prevents me from using a HELOC).

Common sources of such properties include:Foreclosures: Homes that have been repossessed by banks due to non-payment.Distressed Properties: Homes that are in poor condition and need a lot of work.Auctions: Properties sold at auction for below market value.Off-market Deals: Properties that aren't listed on the MLS but are available for sale through direct outreach or networking.The key is to buy a property at a price low enough to ensure that even after renovations, the home will appraise for a higher value.2.

In some areas with low water cost the expense of splitting may not be worth it.