Are you building little fourplex neighborhoods or doing infill?

We own one already and are moving on to our second once we find one that fits our criteria. 

Some areas of the country do have multiplexes that built in decent B- to B+ neighborhoods. 

Though this is a good strategy, in general, it doesn't really fit the model for what we're trying to do.

Most cities zone the same way, think of this as a circle moving inward starting at the outside: industrial, commercial, retail, commercial multifamily (huge complexes), residential multifamily (4,3,2 units), single family residential neighborhoods.

Higher HOA fees can kill cash flow but for building equity and having a place to launch from, here might be a good fit. 

But never underestimate the power of driving for dollars, biking for dollars, running for dollars, around neighborhoods you deem as being good opportunistic locations.

@Paul Schu So rent for this home would be in the neighborhood of $1350/mo.

Therefore, there is no one-size-fits-all approach.

That might be a better fit for your situation.