The full spectrum of homes are available in Indy - SFH and multi's - available on the MLS, Zillow and other commonly available resources. 

I'm looking at lower income multi-family complexes in Birmingham.

I would recommend saving 10% of the purchase price of a multi-family.

We are looking into multi-family and hotels.  

IE we don't use lawyers for real estate closings on the west coast unless your doing some multi multi million dollar transaction.Now to the OPif this is well and septic  you need to test both.. just call any septic company they will do an inspection and let you know.. you want to have them pump it at the same time.you want the well company to give a flow test and water quality.. if its city water that's moot.be advised in this area trailers of a certain age are not allowed to be towed you have to bunch them up and put them in a dumpster then haul them off.. and all the lead and asbestos issues need to be adhered to.so then the question is what do you want to do with the land once its cleared..

The same analysis could be made between selling and investing in a non-1031 compliant vehicle.   

I'm looking to have an automailer set up for multi-unit properties in the area.

My question is: Is it more appealing to out-of-state investors looking to invest in Kansas City, to have a 5-plex commerical multi-family, or to have them subdivided into a 3-plex and a duplex side by side so you can get a residential loan on each of them separately?

After viewing my original post, I felt I needed to be more clear.I currently own a SFH that I rent out.I’m looking to get into a multi family, one unit to live in and the other units to rent out.

I'm interested in getting a multi-leveled building that has been used as retail and office space right in the heart of a downtown and converting the space into modern apartments for professionals/executives and/or younger/hip crowd.