We've got a lot to talk about in 2022. The past 2 years created unique challenges for us all. Let's share some of those obstacles and how we overcame them. There is strength in numbers. 

Keep in mind the tools that you are provided are just tools, some of them will be effective and some are off.  

Upper/Lower ~ 1,000 sq fot per floor, plus basement storage/laundry and a large garage.moved into the lower Aug1.20% down, on effectively $125K... appraised then for $140K, more now (appreciation plus repairs)Bank gets* $728/mo  Upper tenant pays $755 (still well below market) ( insurance of ~ $59/mo and water $25/mo not escrowed)* i was paying $1000/mo all-in at my 1br ~ 550 sq foot apartment  rent/garage rent/insurance/utilities etc..**2**While i was under escrow on #1 my father had passed away.

These are not well suited for neighborhoods where it is primarily families living there full time. 

All of which have different approaches and cost ramifications.Many investors compound their losses by hiring any contractor interested in their job because they don’t understand or have the skillset to cultivate, communicate, evaluate, or manage contractors effectively.

Below are a list of items I ran into that hopefully you can skip:Bought a Frankenstein triplex (wires, plumbing, venting, all crossed multiple units) - Any time I had a repair it usually effected multiple units and drywall/paint/flooring had to be replaced.Utility Companies - I was charged $3k in one month for a sewer bill.

Or does anyone have other thoughts on creative options for a cost effective approach?

If your keeping this property don't use carpet even if it doesn't effect the appraisal.

Regarding your third question, our market is moving so quickly, the part time agents (without team support) struggle big time to get in to houses and to service their clients effectively.

From there you can further develop your investment thesis and business plan to see which submarkets within a major metro but suit your goals.