Focus on Distressed Properties which is what we do in Hawaii which is a really tough market to do REI -- however, we make up our margin on forced equity to cash flow  properties.Don't give up just yet. 

But we would like to narrow down to a specific area if possible.

More specifically, I’ve been looking at 3 bedroom townhouses versus villas (word used loosely) in small developments.

I was looking for anything specific or recommended.

All in all rates for MF investments range between 7.000% - 8.000% in this specific scenario.

In my market, I am able to legally ‘manage’ other properties without any specific licensing.

What I often see being a mistake is people ordering a cost segregation study before speaking with their accountant to see if it would benefit them on their return.What a cost segregation study does is analyze a property further to identify assets that be classified with a shorter asset life than 27.5 or 39 years.The issue when getting an 'estimate' from a cost segregation study company is that they are not accountants(more specifically not your accountant).

Is there a particular site thats good for searching multi-family specific?

If you think they are dealing you need to make the late night visits uncomfortable by dealing with any specific lease violations regarding quiet hours.   

(This is a general statement not market specific) Condos have a lot more to deal with that TH/Apt, these two are pretty cut and dry compared to Condos.