If you only have the 20k I certainly wouldn’t risk it hoping their secret sauces is my flavor.

I made a CLEAR distinction how JUST the city of Detroit being 1/10th of the ENTIRE Twin Cities market, Detroit had MORE sale and rental listings than a market 10X it's size.

We rehab properties(quite the difference from rentals, same taste, different flavor).

There are four distinct neighborhoods, Old London, New London, Old Yorkshire, New Yorkshire.

That just how businesses are run: as distinct, separate entities.As a business person, you need to get rid of the consumer "cut corners to avoid spending" mindset and embrace the entrepreneur's "cost of doing business" mindset.

I know the preferred flavor is single family homes.But, I have a chance at a condo in a well established high rise that provides a leasing company.

You not only have to have a great grasp on the market you invest in, but you have to work harder to find the best deals, because investors who live the market have a distinct advantage.I haven't had trouble finding cashflowing properties in my market, but several of my properties have come from word-of-mouth or other mediums for obtaining properties outside of using the MLS. 

Uh-huh, I remember your distinctive writing style now.Well you do drive around in that high-end truck, as we discovered last time around the wading pool.

Multi-Family can mean more than a single family but is not really a distinction of where commercial and residential lines are drawn.

@Jaron Walling Perhaps the distinction to be made is between hard money/private money and to which @Angelica M Garzon is speaking.