Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

SFR - Low cap rate (3% or so) Multi-Units - 10% Cap Rate, but poor condition*Multi-Units - Low CAP rate, tenant occupied*I understand my options for fixing things up at a property, but here are the issues I am running into.. 

Hands down the most powerful advantage you have is house hacking leveraging owner occupied loans.  400k property in FL will cost you $100K using 25% down

My lender won’t allow me to occupy any of the properties they lend on, and which are owned by the LLCs.  

+95% of agents only have experience dealing with owner-occupied transactions - which are mostly EMOTIONAL decision based.An investor wants an agent that sticks to logical numbers like ROI, Cash-on-Cash, etc.You can differentiate between these different types of agents easily by asking them:1) If they are RE investors themselves.

I know one of the main qualifiers is it has to be owner occupied - which is fine.Will there be any issues with this second purchase being in the same town as my first MF home?

@Kenneth Willis I can probably help.How many lots, what is the lot rent, how many are occupied, what is the source of utilities and who pays the utilities?

I will likely hold onto multi-families for the cash flow but seller finance or rent to own any SFH’s I buy because I think they deserve to be owner occupied.

Both of my houses cash flow close to $2000 per month after all expenses when fully occupied, however you do get some of the occasional chaos you would expect from such a venture. 

This would presenting issues in UW as Owner Occupied.2.)