I am attempting to purchase a triplex and a duplex on a single 2.5 acre parcel.

Hi Radhika-Congratulations on being a homemaker with young kids and looking to do more for the family financially now that the kids are older.You have 50K to get started but are having difficulty choosing markets and deciding where to begin and you are thinking about single-family long-term rentals out of state because you live in California.I would encourage you to start with duplexes, preferably with 2 bedrooms in each unit for tenant longevity, and ideally with separate utilities.

You could take your pay in cash even and let the surplus build up in a wall safe or something.

Their home in Waldo was also a great deal a Duplex they found for $210K and now getting $1250 a door since it needed renovations.Some advice is be careful with what you by so that you are not paying top dollar or market price for a home that someone just renovated.

I successfully operate a small portfolio (3 duplexes and three single families) out of state and a good  property manager is essential. 

Quote from @Jaron Walling: @Shawn Nofziger If you're green to REI the auctions are not a great place to start. 

The property is in Joseph Lee and in the 250k range (but it is a duplex) The PM is downright awful.

I have a duplex that I rent out long term and cashflow $1100 a month. 

You can buy duplexes relatively cheap here in Columbus, so they will cash flow quite well.

I have done fix and flips in Columbus where appreciation is strong, and I own a duplex in Toledo, OH where the price to rent ratio favors housing providers.