I would guess that you'd have to rent it on a regular basis, i.e. a few days a month to get any breaks.

The goal would be to start with something that I can supervise in person on a regular basis.If anyone has any recommended reading around this that would be great too.Thanks 

Although, I get regular messages on social media from potential investors I learned from more experienced investors that most of their investors come from Biggerpockets.

With a new baby, I'm looking for a safer route and am willing to look at a more conservative strategy.  

I absolutely would NOT choose the the small MF route and particularly if you are out of state.   

We plan to go the business route since after property taxes and expenses and the current market 30% takes a huge chunk out of the potential ROI.Whether we purchase a single commercial multifamily unit or a couple of smaller multifamilies and short-term and/or mixed-use, can these all be under a single business entity such as a C-Corp or LLC?

Would you recommend this route for a new investor?

I just helped a couple purchase a new home together in Vero Beach and we went that route.

Sounds like you answered your own questionThanks for the replies.My goal, ideally, is to put 20% down, have rents cover all standard costs (mortgage, regular maintenance), then sell the property after ten years without capital gains.

If you do go the Airbnb route feel free to DM me and I'd be happy to provide some tips based on my own experience.