However, the Charlotte region is a very large area, and pricing varies drastically depending on what sub-market you are looking at. 

You should start with a focus on a 2 unit multifamily property in a market that you can afford to get into. 

I would connect with a local PM who has connections with the HUD programs so you can get the most accurate information and guidance in your market. 

I've narrowed down the best return for my money in this market to a 2 bed/2 bath (with top tier amenities) - about 500 total 2/2 listings.I'm finding myself a bit stuck when analyzing why certain properties are making so much higher than the average listings when they seem to have very similar locations, amenities, style, flow of home, beds/# of people they sleep, reviews, number of reviews, etc.

They sell a 4 unit for close to 1 million dollars close to Jacksonville. they want 250k or 300k down. there's no upside. you can google the properties on biggerpockets and there isn't a lot of satisfaction. it's a slow return and get rich slow strategy. our focus is always as a builder to add maximum value, lower cost as low as possible, build and rent and build and sell the same product and raise prices to help investors out. we have a large market share and large purchasing power in our market in columbus ohio. the one strategy I never liked about turnkey new build brokerage companies like them and build2rent or others is they don't really build close to urban centers and most are single family homes. the numbers don't work on single family homes. if single family was the way to go more companies would be doing it. but by far the most common type of new construction built is three story walk up apartments.

Even better, I might be able to snag it well under market value since it's an estate sale that's been sitting on the market for nearly 200 days.Here’s the challenge: while I could afford to purchase the property under market value, I’d be stretching my budget thin to cover the mortgage during the period I’d be remodeling the basement to make it rentable.

I tell people all the time: if you can't find a quality PM in a market, don't invest in that market!

@Shane Regnier I've flipped a bunch of houses in Ocala but have yet to dabble in the rental market. 

It does not cost the landlord except for the labor and materials.

While I do maintain a relatively modest percentage of my assets in money market instruments, corporate debt funds, and high dividend stocks, I remain most comfortable with the investments I specialize in and know best.