I have seen the signs in homes that we have been looking to purchase.

Ryan,From an insurance perspective:1, discuss the claim scenario (Tenant vandalizes the unit) with your agent and see how, potentially, your policy would respond2. require that your Tenants purchase Renters Insurance and have you named on the policy so you receive notice of cancellation. 

Make sure to factor in all expenses, including property taxes, insurance, maintenance, and property management costs.Once you've found a suitable property that meets your criteria, make an offer and move forward with the purchase process.

It actually doesn't matter if you are purchasing for cash or financing - it matters how much the purchase + reno will cost compared to the after repair value.

Purchase price: $25,000 Cash invested: $11,000 Sale price: $62,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Joslyn Lukestich-Lewis, successfully completed a fix-and-flip on Curran St, Burlington, IA 52601.

On real property purchases I went from $50,000 to $500,000 to $1 million +.  

I do understand wanting the highest rent to purchase price ratio, and I would assess markets based on that, if that is the route you are going.  

Where I live just running numbers on the MLS there isn't a lot of inventory of multifamily for sale on the MLS it seems like landlords trying to sell their properties in my area have them overpriced.I'm from Kansas curious what you guys are getting or if you have to look elsewhere besides the MLS. 20% Minimum COC, 15- 20% net on cash purchase In the Ohio markets 

First time looking at investing property outside of where I live, curious to know exactly where I should invest for rental property and should I buy a multiunit? Single house? or Condo? thank you

Ensuring that you do your homework before purchasing a property is extremely important for making an intelligent investment.