Hello BP,I started looking for small multifamily properties in the $300k-$600k price range and There are a few things that are a little unclear to me: A little about myselfI am a self employed and have been working in brokerage. 

Like the ones I looked are within 3 hour driving range.

I am definitely looking for cash flow as soon as possible, so maybe I can lower my price range and instead of financing 96.5% I’ll finance 90%

As you will see LLC's come with a few downsides, especially when you are not in the million dollar range.

As another local LA licensed general contractor and RE developer, I agree with this assessment and would only add that the range will vary depending on size of build out as well.

I'm located in southern California in the Corona area and I'm noticing that there are a few homes in the running springs and arrowbear under 1k sqft in my price range, so I'm wondering if anyone here has had any success with small short term rentals?

The ARV on this property would be in the range of $300K- based on comps (what a steal!)

For starters what's your Location A,B,C,C+ D areas etc, school districts, economies, diversity of jobs, specific population amounts etcCondition/ Repairs needed year of homeProfitability Criteria Anything else you care to add. 

I would look first at what market segment you want before looking at type of housing...lower, mid range, upper end?

@Jonny McknightWhy do you think the agent listed it at $2M if the comps are in the $3.8 to $4M range?