Multifamily properties can be utilized to provide low income housing or student housing among others. 

How difficult is it to find quality tenants (i know they will be low income typically and have some issues but hopefully you know what i mean) and how long are properties vacant typically?

I am asking how an experienced investor would follow up because I do not believe this property can be put under contract for a wholesale.Unfortunately I do not have the funds to fund myself a deal due to low income and putting any savings I had into starting this journey (possible mistake).

Most East Side areas are no worse than B-grade, while you can go as low as D-grade on the other side of town, so be careful.As for Westwood, there is no shortage of properties to acquire here.  

$1200 rent on a $170K property is too low, you have too much equity in the property and need to pull it out if you ever want to see any true cash flow.

I am extremely motivated to dip my toes in the water but I am having trouble deciding if I want to invest in multi-family properties to rent out for residual income or if I want to invest in REITS to gain some more capital.

I'm performing a 1031 Exchange from California so real estate investment with relatively low time requirements is a must.

At some point many will tire of the threat and real estate values should drop or remain very low.

Hey Ryan, How did you get such a low rate on a commercial property?

I grew up there, so I have some familiarity with certain neighborhoods.I don't have a lot of capital, but I have an extremely excellent financial history with a high credit score and very low DTI.Time to wrap up, don't want this post to get too long.I'm looking forward to interacting with all of you on the site, and here's hoping I can make this work with your help.Thanks,- Ray