People don't buy multifamily in SoCal for cashflow, they buy those $800k duplexes because they think it will be worth $1.6M one day.

Some neighborhoods like Brightmoor, Warrendale, and Cody-Rouge could be worth checking out.

And you as a realtor remember how it was 18 months ago on how the market was at the time.  

Assuming your debt (as @Matthew Crivelli explained) you are using a 75% product on today's rates there is not actually much cash flow, considering the time and effort going through 45k worth of repairs....

Remember, "location, location, location"!

Remember relationships are important.Check a Public MLS Website As a realtor, searching the MLS for owner finance deals can be a great way to find unique, creative solutions for buyers and sellers.

For investors, the rise in foreclosures means that there are more chances to buy properties at prices below what they're worth.

Syndication provides a window into other markets, different asset classes, and a completely different strategy.Lastely, whats your time worth?

@Caroline KnightI don't know the Chicago market but I'm highly supportive of house hacking.One thing to remember that positive cash flow isn't actually the goal of a house hack. 

Again, I made this list based on my own experiences.Two important things to remember.