I have not yet owned a home; that being said, I would not be eligible for the HUD FHA first time home buying option at this time b/c I'm self employed.

I'm with @James C. knock on the door and have a conversation.

I am also considering a MFH unit consisting of 5-10 units in a C or B class area near the city.

Personally, I focus on buy and hold multifamily properties in C/D neighborhoods - the risk level aligns well with my goals.

Originally posted by @Scott C.

The a/c and heat pumps on the 2 a/c units are 19 years old each. 

The good thing about bad stuff ( b/c it will happen-- guarantee), is you learn to roll with the punches!    

@Lue C.

It is probably rated as a C class neighborhood, but you said you're looking for cash flow, so obviously we will have a tough time finding cash flow in A or even B neighborhoods.Here's my monthly costs, not including vacancies and repairs:$586 mortgage & interest$166 taxes$34 water$46 insurance--------------------------------$832 total bills per month$1,650 total rental income per month*$818 total gross cash flow per month (before any possible vacancies and/or repairs)Purchase price of $98,000 (which looking back, I could have got for less but this was my first property and wasn't quite as good at negotiating). 

He is paying all utilities because it will deteriorate the house if A/C is not running in Florida.