My strategy is to maximize revenue while minimizing expenses. 

I'd keep rent low, no car note, frivolous spending minimized, retirement accounts maxed(401k & IRA), savings a high allocation.

@Lin Ding  If the seller agreed to repairs, don't delay closing just for them to be completed (unless they affect your financing). 

I agree that its atypical, but I am hoping to hold the properties for an extended period and want to minimize regional expenses like separate taxes on the properties.

@David Garcia- thanks   1) if you plan to lie in one of the units and minimize the down payment - use a FHA loan  as  down payment can be as little as  3.5% of the  price  2) if  not planning to live in one of the units - use a conventional loan and  your down payment will be  consierably  higher  ( the amount  will vary based on the type of property you buy   3)  downside to using a FHA loan - you have to pay  upfront fha mtg ins  premium of 1.75%  ,,,the monthly mtg insurance is  permanent and high ..benefit to  FHA  is low down pmt ,  tend to be better priced  and also more forgiving on credit  4) let me know if yuou would like a FLA based loan person referal and  good luck

Financial Situation:- Single professional ($200k / annual salary)- Remote job (can work anywhere / establish permanent address anywhere)- ~$100k savings (between checking, index funds, and small crytpo portfolio)- Grew up in Southern California (I don't intend to invest in CA, but it is the market I am most familiar with so I am really looking for advice on how to confidently branch out to other more affordable markets with better ROI)- Dad is a real estate developer based out of Southwest Colorado (considered stepping into this market, but not familiar with it's ROI compared to other states commonly mentioned here)Goals:- Develop passive income streams to match/exceed current salary (I'm trying to escape 9-5 life ASAP)- I plan to utilize an FHA loan to minimize my down payment on my first property (ideally looking for a 4+ unit building where I would rent the smallest unit for myself and maximize the rent from the larger units).

Decide as much as you can, carefully in time, to minimize mistakes that will happen the first couple years. 

Even if you can get rent up to $1,300, it sounds like you'd have very minimal cash on cash return and no loan paydown...However, I would be happy to send you a creative finance calculator.

I have minimal reserves but the way this is projected (by AirDNA) I should be able to recoup these with minimal time.

You can also involve an accountant/book keeper on this so you can get paid, minimize your tax burdens, and keep money in the business... also be sure to talk to your attorney about the quit claim deed.