Any kind of investment real estate can be sold and exchanged for any other type if investment real estate. 

For example around here sub 1% initial cash flow is common. 10 -15 years later that could grow to 2%+ or even more.

In CT 1-1.5 months was fairly common from offer to closing (standard financed contracts), as the offer submitted was on a Contract.

Also, the kinds of Mistakes that people make all the time are HORRENDOUS!

I assume you have that much to ask these kinds of questions.

if so, the focus on rent roll, your good credit, etc.According to what I saw on the VA website, you would be eligible for a VA loan for multifamily upto a fourplex if you lived in one of the units.Additionally, it is common for banks to consider the current rent rolls in the lending decision.

That's a bit like asking "what kind of car is a good car to buy"I suggest you decide what kind of property and what kind of tenants you want to market to first.

These kinds of deals come across my desk very frequently here in Connecticut in the area you are operating in and 9 times out of 10 this is where the deal momentum stops.

Who pays water/sewer bill, garbage collection, any common area electric? 

I pay the bank from my pocket, then I send the purchaser the same kind of notices you are getting from the bank.