Evaluate locations based on the ten years preceding the COVID times compared to the current inflation rate (>5%).Population Size - Greater than 1 million.

Take 200k and buy 1 million in MF all day any day@Pete Perez

I live in the Pacific Northwest, I'm a bit priced out of the market, I'm attracted to buying a duplex or fourplex in some state in the Southwest or Southeast where I can better afford to buy, I would like to move there and live in one of the units, but it seems like an overwhelming project to decide where to buy it seems there are a lot of factors involved and it's difficult for me to come to a decision.

One is worth $220,000 and the duplex I house hack if I moved out and got at market tenants in both sides would be worth $280,000 leaving about an $600 cash flow and a 10% CoC return to attract an investor.

$3 million?

Additionally, I negotiated that the seller do a new exterior paint job ($20k), $6,500 in landscaping, and $5,700 in deck work to transform the exterior to attract new quality tenants.

A $50K house is not going to be in a nice area or attract quality tenants.

The estimated ARV on 8% cap rate for this building is 1.4 million.

Over the the episodes from the past two weeks, David from the BiggerPockets podcast has brought up that real estate will be harder and harder to from the "small guy" to get into each year due to factors like: inflation, hedge funds being hyperactive in the market, the lack of supply and high demand causing an increasingly competitive market, real estate being a more attractive investment for our current economic condition, etc... 

Yes, I agree that any needed maintenance work is just needed and expected (roof, mechanicals, etc) and not substantially change any values, so to focus on what may attract good tenants and higher rents (adding a deck or dishwasher, etc.).