There are very few that actually earn a living, and even fewer that make good money.

That's part of the reason it is close to a wash for most people.   

If the numbers are not in a reasonable range and you have not had MOST of your major questions answered maybe it's not the right deal.

So what been happening: I have made it to the point of conversation with a couple of sellers at this moment. 1 seller offered seller financing, I think that one is in the bag. 1 other is the reason why I am making this post. seller asking 190k.

Experiences like this are even more reasons why you do not want to work with Bank of America in any capacity, unless you strongly desire distractions, inefficiencies, headaches and heartache.  

@Victor Nguyen for starting out either is fine if the numbers work, but if you do a duplex I would recommend starting with the a side-by-side duplex the first time you do one rather than a multi-floor building.The reason being is that managing multis (duplexes) with tenants living over each other come with different problems such as noise complaints, and can limit your options accepting pets.

The Operator or the HammerThis is the person that actually runs the physical asset - property and asset management, project management - takes care of the day to day gritty details of operating rental property.

I agree with James actually, we are in Houston but we are seeing a lot of borrowers acquire rental properties in the Midwest.

Ohio seems landlord friendly, reasonably stable blue-collar economy (I currently own rentals in WY and I'm looking for a new location that also targets 1 bed / 1 bath multifamilies).

Then it actually is a solid plan to mimic the rain by spraying a hose around the house.