Especially interested in multi-family properties that can generate reliable cash flow.

Actually an 8% cash on cash return would mean you need $900,000 of CASH invested producing the 8% CoC return to generate $72,000 a year. 

I'm a commercial Lender and an investor, I can not advise you on Real Estate because I am not a licensed  Realtor. 

They will be more aligned with your goals as they make their money from the income generated by the property... not the sale.Here are some tools that should help you pre-screen opportunities.Redfin.com - Redfin's home value estimate tends to be more accurate than Zillow's.

I was thinking 5% of sale price, please advise otherwise.

Has anyone used a similar method, or can advise if this deal might be worth the risk?

Like a lot of you have said I think over time my generation will move away from apartments and more towards houses.

@Ali Boone Thanks.....I am looking for SFR's  in the $80 to $110K range to buy and hold and generate cash flow.   

Does anyone have advise for a marketing company that is effective using direct mail, email, or whatever? 

Hello,Appreciate if someone can please advise and explain the "Annualized Total Return" calculation on Bigger Pockets Rental Property Calculator.