The three areas you have chosen have good rental potential and section 8 may be a good option. 

Want to avoid potential pitfalls in the overall journey before you even get started.2 - love the idea of water falling all your profits and cash flow into future purchases and down payments.  

Hey BP, I'm a new investor excited and ready to make my first purchase for a flip. I'm currently looking at a property in West Oak Ln.  If there are any seasoned investors out there that wouldn't mind walking through ...

Considering we have some potential investors interested, we feel that the multi-family route could have the most potential.

And what type of things should I be on the lookout for as potential deal breakers?

The seller's agent has been receiving non-stop calls for this property with offers $20K+ then my own, and have been doing my research on the area --- so I know there is great potential here.

@Shane Hedeen Much appreciated@Tony SanFilippo We won't touch anything with a potential 10k profit.

Your 40k can mean a completely paid off house in one neighborhood that might potentially cash flow 2% per month.

Put these examples in a nice packet to present to a potential money guy. 

Leaving plenty of room for rehabbers like yourself to do what you do and still make a large profit.I would like to add you to my buyers list and potentially work together in the future.