As I am new to this and looking for cashflow using rentals, one key aspect of this investment is to ensure that the unit rents out quickly and while I do understand that cash flow to begin with might not be attractive, it can be a good investment in the long run if the location is right(as appreciation also kicks in).

Materials have increased more than 20% in the last 5-8 years.

If you have extra cash at the end of the month, then do double up payments on the mortgages so the principle is reduced and this will increase your heloc room.

This is a very valuable skillset to have in your arsenal as an investor that can dramatically increase your net worth in a short period of time if the strategy is applied correctly.  

Not only does it hurt the returns, it is a very attractive target for ambulance-chasing lawyers and title fraud.  

This is usually done to increase your rental income but it comes with a price as you are finding out.  

Keep in mind that they can increase that period if they get complains from the community, so make sure you're in good relationship with your neighbors.

Repairs made while the property is your primary residence are not deductible, but improvements can increase your cost basis, reducing future capital gains tax when you sell.

The increased cash flow and the ability to pay down the loan more quickly are the biggest draws for me.Am I underestimating the time commitment of managing a multifamily property?

It also matters where the home is located, and what the weather, type of tenants it attracts/has been attracting, etc. other factors are.