As exciting as it is to immediately think scale, there can often be problems/unknown factors that arise with the first few properties.

The previous owners had exposed drywall/studs, chipping paint, and some other minor deferred maintenance.

I think it is unlikely and may even add a stress factor to the tenants.  

Multi Family - also expensive, and, many factors result in high prices here.

Don't forget to check market rate in your area and factor in maintenance in your cost calculations too.

You can get into your first property with as little as 3-3.5% down but when you factor in closing costs, attorney fee, inspection, appraisal and miscellaneous expenses, you're looking at an ALL-IN 10% up front expense for your first deal.In addition to boosting your buying power through saving and building your credit, you should also be building your network.

There are other factors to real estate then just cash flow, and in many markets those other factors are where wealth is created.

Products - and your rental is a product - are priced based on all kinds of factors, including scarcity, business objectives, long-term strategies, etc.

It'll likely to benefit them one way or another if you choose to invest there.Unfortunately the market is not the same as what it used to be. 1% rule exists in areas where you wouldn't want to step on, with the hopes that area will over time get better.One very important investment factor is, the tenant pool you'll be targeting. 

A variety of factors, but it was purchased with partners, and we received an offer for the property that was really good.