I think 2-3 bedrooms will attract more people. 

@Patrick Menefee  Another point to mention, make sure to include at least the following, when determining the total return: Principal paydown (use an amortization table.. you can find a million on Google) or forced equity/appreciation of investment.Rent Cash Flow (CF) after payments/taxes/insurance.Tax Shield (if you are a higher income earner, this can also be something as well).  

My partner and I purchased/held/flipped over 1.5 million in SFH and duplexes over a 2 year period about 7 years ago.

Along with larger MF loans.. to get a larger loan say 3 to 5 million you must have a 3 to 5 million net worth to match it.. this is where equity comes into play. 

Everywhere I looked so far Commercial Loans that involve 5 units or more won’t even entertain the idea of a property less than a million?!

We bought a 5.5 million retail center in Texas and are now looking up to 7 million for the next one.Retail NNN STNL or MTNL you can get passive at for quality at about the 1.5 million purchase price or higher whereas multifamily you are looking at about 80 to 100 units and quality about 75k a door or more so about 6 to 7 million in price to be more hands off with management in place and layers of repair people.Syndication you can diversify but you lose control and are sharing returns with the sponsor.

Yes, I've done a few, closing this month on a $40 million deal with an institutional equity partner.  

. $15k for buildings under a million is a rip off.

You'll get a million calls from agents trying to convince you to let them list it and a bunch of tire kickers who aren't serious about buying.

A lot of what you said rings true, I think what was mainly attractive about this property was the price-point relative to everything we have been looking at on realtor.com/zillow/redfin in the Natick area.