Most of the cities and towns you listed are mostly filled with single families, though.

I am focused on a buy and hold strategy with single family or small multifamily homes.

In house hacking, I believe the idea is to buy a property (single family or up to 4 units) using a conventional fixed rate loan with a low down payment and then to live in it for the required time and move on to buy another property the using the same method.

After that year, we had two rental properties that each cashflowed $200 per month and we didn’t have a single dime of our own money invested.

@Max Householder Do you have the current leases for the non-paying tenants? 

I am in Philly working on a single family buy and hold. 

Dwelling limit is the total amount they will cover for the property in a single loss (or depending on the wording of your policy within a certain term no matter how many losses you have)FYI a "loss" is a claim.All perils deductible means you have coverage for anything that happens to your property UNLESS it is specifically excluded in your policy. 

In this case, you can usually get a senior loan to 65% and mezzanine to 85% or more.There are also structured options available, which gives you single high leverage loan, and the pieces are broken up (syndicated) on the lender side.

So $20k in reserves for 3 single family units, correct? 

Currently the property ( old barbershop that must be converted into a single family dwelling ) is in a high valued market.