The only thing you forgot to say is, How much income does this investment produce?

If this is the case, I have this new idea to produce leads.I thought of targeting homes on zillow that have been listed for at least a year, and instead of contacting the agent, trace the property and contact the owner to try to make the sale myself.

I get the "1% rule" is a common guideline to follow with income-producing properties and the market may be tightening a little bit making it harder to find "1% deals", but there are  plenty out there.

Since I'm looking at many projects at a time, defining "one" project, or even five at a time would be too costly to produce project specific PPM's.

In my eyes the value of a multifamily property lies in its ability to produce rental income.

I'm looking to see what my ROI is on the townhouse to see if I should 1031 exchange into a better producing property, or continue to use as a rental.Considering I had to put 10% down to purchase at the time, using rental property calculator.....

Stereotypically higher end properties have less evictions and low end has people leaving in the middle of the night.There are a ton of cities, in a ton of states, that will produce SIMILAR net returns on average. 

(OFFENSE)Answer:I'm focusing on what produces the maximum profits with minimum time commitment.   

The ability to produce much greater cash flow than long term rentals.

@Josh Fralish Congratulations on trading in a liability A.K.A the boat for an income producing asset!