If you get a single family, check into getting creative and maybe add an accessory dwelling unit by converting the garage to an apartment.

Our market is HOT right now and multi family's are getting harder to find, something to think about if you want to bust out the hammer is look for a property you can add an AUD (Accessory Dwelling Unit) to by converting a garage or part of the house into a rentable unit.

Also, I'm looking for how others have overcome this problem in their own investing.Here's some background on the property:Pros:Each unit has in-wall A/C units that are fairly new.All 4 water heaters are less than 4 years oldAll 4 electrical panels have been rebuilt5 minute drive to downtownCons:Built around 1950 so some items are showing their age.No washer/dryer hookups in unit, no on-site laundryMinor issues (in my opinion):Damaged sidingA few small areas of wood rotIssues I'm concerned about:Roof:Roof deterioration - Roof age is 14-16 yearsRoof sealant at ridge caps, flashing, and accessories should be resealedRafter sag - this caused the roof to sag in certain areas, which my inspector said is typical for older homes that have no collar ties installed.Attic access was sealed off, caulked and painted over by the current or a previous owner. 

In addidtion, I don't think Baltimore City has yet approved an accessory dwelling unit regualtion, even though there has been discussion at city council on it.

. $700K might actually be doable.If not, I'd recommend looking into Single-family properties that have an accessory unit i.e. mother/daughter properties and properties with a basement or attic apartment.Lastly, as you mentioned, if you have someone close to you who is like minded and has similar goals, partnering up to purchase a house-hack could work.

Codes generally posted on county website, generally allow accessory dwelling unit.

Depends on the location of the property but here in NY - adding bedrooms, bathrooms and separate entrances for accessory units (basement, garage, attic, mother/daughter) boost ARV the most.

We will buy a few accessories like towel bars and TP holder, but you can get it done WAY cheaper than you think and learn along the way.cheers 

consider buying single-family with large Lots and / or conversion potential and then building one or more accessory dwelling units (ADUs).

In California, you would simply need to permit the space as a JADU (Junior Accessory Dwelling Unit) this would not change the property from being an SFR.