Look for properties that you can "add value" unless you want to invest only in "turn key".Adding value by rehabbing and raising rents is the fastest way to make money without having to wait for appreciation.

We know that this isn't going to be a home run from a cash flow point while we're living here; however, it should help us save about $800/ month extra so that we can buy our first non owner-occupied investment property in the next 6 months or so. 

So, if you can increase the rents by adding value (renovating to increase rents or decreasing the expenses), you will force appreciation and increase the property value.So, you want to purchase multifamily properties that are under-rented, outdated, and are spending too much on expenses.

What you consider a   " B" neighborhood could be a  " D " neighborhood to me .  

It seems that finding an apartment that value can be added would make sense. 

While extra coverage sounds nice, it ended up being a lot more expensive. 

I like the idea of paying a little extra each month to my highest grossing property.

Personally I am quite the contrary and look for extra bells and whistles but that is not the average  buyer willing to fork over the extra money like someone like me for example would be. 

The goal would be to earn some extra side cash to save and to network with other real estate professionals.

7) I'm receiving many emails from my ad.