Dirt cheap properties in rural areas could cash flow pretty well if you can keep them rented but don't expect any appreciation. 

I don't want to be a slumlord, and vacancies are obviously important, but i'm looking for cash flow.  

I own four homes individually and two with a business partner - all of them being longer term cash flow investments.

So with just $100K, you could put a down payment on three or four properties and keep a good chunk for reserves, let tenants pay down your mortgages and either keep the cash flow as supplemental income or devote it all to rapid pay down.

Does your overall investment look attractive on a cash-flow-basis only?

Crunch those numbers after analyzing all expenses and what you can get from rent to make sure that you will be cash flowing no matter what or at least breaking even. 

I have more spare cash flow than spare time, and am looking for turnkey small multifamily or SFH. 

Plumbers have equipment that is much more heavy-duty than what we own ourselves and are experts in rooting out plumbing lines and ensuring drains flow freely.Electrician - While we do quite a bit of electrical work ourselves, it is important to have an electrician available for more complex work, such as upgrading an electrical box or replacing wiring.Carpet Sales and Installation - Every property we have ever owned has received new carpet at some point during our ownership. 

Currently closing on a VRBO I expect to cash flow $800-1000 per month right out of the gate and $1500 once it gets into the groove and a few small repairs. 

Pike township.Purchase price is $119,900Rent: $1,17520% down + closing cost: $26,858Principal + Interest (4.75%): $500Property Tax: $200Insurance: $60HOA: $18Property Management (8%): $94Vacancy (5%): $59Maintenance (5%): $59 Assuming I get $1,175 I am looking at $185 cash flow for a 8.2% CoC return.