You need to be street smart and landlord/tenant law smart.

Your choice.

Get smart on the math of how to run the numbers, types of financing, how to find properties, how to identify good markets, etc.Tips?

You have to make that choice for yourself.

You're biggest choice is going to be area, and Townhouse or Single family. 

I’d be interested in collecting an opinion or two from people that have made this choice before...I’ve collected about a dozen SFR rentals and I’m considering selling one.

Some comments on what @Mike S. and @John Morgan said.Yes use a warranty deed to transfer the title (actually a special warranty deed may be a better choice.

Now, in the case of buying a triplex or fourplex in a cheaper market, we are thinking a turnkey property and saw some options that would give us about $450-$600/month positive cashflow.On paper, it seems the smart option is to buy outside of state and get that cash flow going but there's one important thing, we live in a 1 bedroom apt with a 21-month old girl, which means maybe we have 1 more year at our current place and we'll definitely have to move to a 2-bd place and rent will increase by $500-$1000. at least, so then, there's not so much difference anymore.I'd love to know your thoughts.Thank you in advance!

You may want to just sell the property off to a developer, which is another choice.

I posted on my ad that i don't rent to people cats, but in this case, do i even get a choice to say no?