Unfortunately, it cannot be used for a 2-4 family property, only single family properties. 

Here’s a breakdown of some top areas:Cash Flow-Friendly NeighborhoodsWest Charlotte: Known for affordability and strong rental yields, West Charlotte offers opportunities in single-family and small multi-family properties.Gastonia: Just outside of Charlotte, Gastonia is a great spot for investors seeking cash flow.

I personally like Alabama and Tennessee a lot, depending on what specific area you're looking at.Look for Class B or C properties in stable rental markets, particularly single-family homes or duplexes.

I currently work with investors looking to build their portfolio with single-family, long-term rentals while managing for them on the back end, making is hands-free for the investor to still work their W-2 job and live their everyday lives and spend it with family, hobbies, etc. 

However, not one general location is going to help you determine whether it's a good market for multi family or single family etc.The one true way to start looking into a market is talking to an agent who knows the area.

For starters, I recommend to begin with a single family home or if you are looking to start locally, do house hacking. 

Every single one of them has either said no, they didn't, or "I didn't know that was an option." 

Every flipper has found themselves at Lowe's for the fourth time in a single day, picking up yet another piece of material for a project.

You can still find single-family homes in the $80k–$100k range and duplexes in the $130k–$150k range, even in C and C+ neighborhoods that are seeing steady improvements.

Own 10 rentals in Columbus Ohio and building another 21 new build single family houses in Florida that will be a clean BRRRR that will be free and clear.