And what a great price range for your multifamilies!

We are still seeing levered cash returns in the 7% range and appreciation over 10%.

I would find a property in South Vegas or Henderson (above your 225K range) , Near Nellis bases is the best area in Vegas for cash-flowing properties in your price range , BUT if you are ok with the area and can find army buddies to rent to.

My ARV for this home should range from $245,000 - $260,000.

I'm looking to purchase a multi-family property in the 100k-150k range. 

In addition, rent increases will improve the cash flow situation   The BP spreadsheet on buy n hold returns shows by year 8, the total cash flow for coastal CA markets was in the mid range of the cities evaluated (and the spreadsheet had property tax mistake for CA and therefore under calculated the cash flow).  

All cities unto themselves, none boring suburbs with similar homes with large yards where everyone drives everywhere. 30-35 year olds make up the largest range of first time homeowners in Greater Boston, many of them are still single or newly married without kids yet, and they still want to be near their friends with active lifestyles.

I plan on applying for one that is below what is recommended for my credit range to minimize risk of getting rejected and needing multiple inquires into my credit. 

It doesn't appear that the growth in home values in Denver, Colorado Springs or elsewhere along the Front Range is slowing any time soon.

Also I'd say getting with a real estate agent and/or setting custom searches on Redfin/Zillow/etc for multifamily is also a good way to learn what kinds of properties pop up in different areas of town and the price range for them to help you run numbers and plan.