Of course I can ask the old owner to sell, so long as he's friendly I'm fine buying it from him for a few hundred bucks.

Yeah doesn't make much since,seeing its a multi unit.Thought you could at least live in on unit then after a year lease the other units.

In my market #'s are fairly high and I found most multi's from a cash flow investing basis do not make sense (which is why I'm looking into investing out of state.)

http://www.washingtonpost.com/blogs/govbeat/wp/2014/01/14/michigan-session-preview-what-to-do-with-a-1-3-billion-surplus/Michigan is going down the toilet!!

What's a simple way of determining a desirable submarket for multi-family investing?

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Good Luck

Sellers asking 30-50% down is typical with multi-units in my areas.

Currently looking for my second buy&hold cash flowing multi-family property.

I see a huge opportunity to move out and rent the entire place, netting a $500+ cash flow monthly (after PITI), and move into another multi/condo/SFH.My question is: what are my options, regarding the FHA financing on this property.

I've been keeping my eye open so that when I am ready to purchase something in a few months I am better educated on what is a 'good deal', so I've looked at single family homes, town homes, and multi family homes (mostly duplexes with a few 3 or 4 unit properties mixed in).