I don't see a ton of multi-families, but it looks like there's a 6-unit in Huntington WV for $100,000.You can tell the lender that you are looking for multi-family properties for $100,000 and up with a 12% cap rate and a minimum 20% cash-on-cash return (or whatever you determine your criteria to be) - and if the deal is good enough your investors would potentially be willing to spend up to $(fill in the blank).

The deal was good enough to cover both 1st lien holder (the seller) and also the 2nd lien holder safely.

So its important we figure out which income is characterized under this tax as well.WA is nice because there is no capital gains and or state income tax, however RE excise taxes are around 1.78% of the gross sales price and sales tax is about as high as LA county in CA.I prefer a non tax state but if the deal is "good enough," overall I would still consider a tax state like CA if a quick sale wasn't in the short term game plan because I wouldn't want my long term capital gains to be subject to the state income tax.

So its important to make sure your first deal is a decent one that has equity after rehab and the your credit is good enough to qualify into long term financing.

From what I’m reading and listening, sounds like it would be worth my while doing some form of rehab to increase value, maybe that would be good enough to offset the PMIs

Sorry to be generic but only you can decide if a deal is good enough for you.

Refi buy more, or if the 8kish net per month is good enough, go to the beach and enjoy your life. 

If you are a good enough negotiater to convince him to sell to you the Realtor will love you especially if his listing is about to expire.

The strategy is good enough to deter lawsuits, give some degree of anonymity(almost truly impossible), and enough of a liability shield. 

Call it a "reward" for being good enough to have that volume.