My guess is a single house on one lot would end up costing a lot more (~50k or even more?). 

For example, buy a single family home for $980,000 flip it for $1.4 million (true recent example in San Diego a realtor showed me).

My background is custom residential, everything from large single family residences to more compact 2-4 unit projects. 50/50 mix between end-user projects and spec homes.

Then the judgment would need to attach to the property and then you can foreclose.Issues that could come up are I assume there is no third party servicer to claim the payments were or were not made- so there is a he said she said - if they also occupy the property and statements were not sent you cannot charge interest typically on the loan.You will need an attorney involved to see what if it is still collectible.

Typically property managers charge the following:-Monthly percentage-Finding new tenants-Renewals-Charge on top of maintenanceSo even though it is 10% of the gross rent, often times it can be really as high as 18% when all is said and done.

And that’s why almost every single person on the Federal Open Market Committee believes that it will be appropriate for us to reduce interest rates this year.” — Jerome Powell, Federal Reserve Chairman, during his “60 Minutes” interview.

I am interested in LTR with a multi-family property that has a total of 4 or more bedrooms or single family home that has at least 3 bedrooms, purchase price between 160K-230K, and does not require a large rehab. 

I own a large portfolio of single family rental in Memphis, TN, I'm happy to share my experiences and my network with you. 

I'd like to next buy a duplex/triplex and step foot through the multi-family investing door while continuing to do single-family house flips.  

It sounds like you want to be a rental property owner/investor and not just looking to minimize your out of pocket housing expenses (getting a roommate to help cover your mortgage with a single family home).