With most of the real estate around me not having good cash flow numbers, I stated looking at some trailer/manufactured home parks.One near me in south Ypsilanti (south of I-94) has some going from between $10k-$40k  a $10k example is 900 sq ft 2 bedroom that rents for $760/mo.

That leaves you $600/mo between gross income and base expense (PITI).You estimate putting $50k towards repairs, which means these units should be TOP OF THE LINE by the time you're done with them ($12.5k per unit) so your rents could even be higher if these units are all cherried out.Big thing about this one is the property has been on the market nearly 6 months... so it's overpriced for sure.The fourplexes just on the other side of I-10 sold for $250-300k... yet these two up top (including yours) are asking $400-500k??!?!

I think that's your opportunity.Be Accessible - Closings are nearly always time-sensitive.

There's duplex up the hill near Safeway that seems rundown/poorly managed with good rehab/value add potential.

So you purchase a 4 unit RE at or near market price with rents below market. 

Pick a mature urban or near-city suburban area that is complicated, where neighborhoods vary significantly street-by-street.2.

However, when looking for properties in downtown Austin near my work, my wife and I have been facing several challenges due to the high prices.We first wanted to buy a small multifamily home, but the prices for these would be beyond want we could afford month to month if the other unit(s) sat vacant.

I would only do it on a sub 30K home that wasn't near a school, nursery, playground, etc.

Especially when there is constant construction of huge luxury apartment buildings.

Near the end of this project, I'm going to send my guy over to her house to install a new toilet because she mentioned that it's the only thing in her house of 30 years that is currently giving her a problem.