I recently graduated as a Mechanical Engineer and hated trading hours at an engineering internship.

I've believe Furnished Finder is the best mechanism to accomplish this.

You could reach across and touch the walls in two of the rooms.We added square footage and did a full gut job down to the studs with new mechanicals, bathrooms, kitchen, etc.The we added 400 sqft and combined 2 tiny bedrooms into one master bedroom with full master bath.

In my limited experience(100+ lease ups) I would say that around 600 and lower you will start see multiple negative variables that usually overlap with my other non-score specific red flags.red flags=instant rejection=previous eviction or unlawful detainer, felony conviction, vehicle repossession, bankruptcy, foreclosure, multiple collections items...if it's BK or foreclosure or multiple collections, they can be overlooked with a maximum legal deposit(2months in ca) if they have solid income verificationWith C property you may have tenants with 400-500 score, because they have no credit history, or limited history with $50 unpaid phone bill or unpaid ER visit, they don't even know about because of moving around or just living check to check, BUT, they are a mechanic, heavy equipment operator, retail manager for 4 years at the same business that has been there for 50 years....

Ideally, I would like to start with a duplex, triplex or fourplex in the $200K to $300K range with an emphasis on cash flow.  

I 100% agree cash flow is a defensive mechanism when you're just starting out, once you get into the large commercial deals or triple-net leases you can start counting on that more and even use it as a living.

I got my undergrad degree in mechanical engineering  and worked in that field for 5 years before shifting to real estate full time. 

Actions taken by Government to SUBVERT this FUNDAMENTAL mechanic of the system has ALWAYS, in EVERY instance resulted in creation of BIGGER problems.

Perhaps your better off buying grapes from a large mechanized farm and just producing the wine?

It will free up space on top of the dressers and with the right locking mechanism will make them difficult to take if you are worried about that.