You'll want to enlist a CPA who specializes in real estate, trusts, & flow-through entities (this is a somewhat rare combination to find in a small/single-member firm, you may want to look at a larger regional firm to assist you if you can't find anyone who suits you at the smaller level).

Good balance of strong cash flow and appreciation. 19 doors and counting.......

SCENARIO: You quit your W-2, but you have $100,000 in cash and five single-family homes that produce $75,000 in cash flow and have $400,000 in equity. 

It will probably not positively cash flow while you are living in it (unless you make some changes that I will get to in a sec) but it would still be a win because you would be paying down a mortgage rather than renting and I imagine your monthly housing cost might end up lower, AND you will now benefit from appreciation.

Purchase price: $50,000 Cash invested: $16,000 Sale price: $127,000 Purchased with a 75% loan for cash flow.

Additionally, it can help maximize renovations and improvements.A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

My 3-5-year goal is to build the portfolio using LTR purchases to grow some cash flow and equity, ideally purchasing multi-family units in tandem with SFHs.

Basically, pound the pavement and pick up the phone.And, just to be blunt - we are not in a cash flow market right now unless you use some kind of creative strategy.  

I personally invest here for both the cash flow and appreciation.

We don’t have a ton of multifamily and the cash-flow isn’t strong since appreciation and demand is high.