What are the different types of Multi Family properties I can purchase?

Some say a local commercial lender is the best bet, but in certain areas even the local banks don't want the "risk" of a multi-family turned into a boutique hotel. 

Hey there @Aaron Francl I am newly moved to Austin, Tx and I have a buddy that invests in RE in SA and I wanted to know good areas to invest in for single family cashflow or STR cashflow.

My wife HATES when I spend time away from her and the family dealing with our rentals.

The views were stunning, it was just my wife and I (and the photographer), we got amazing pictures, paid a fraction of the cost -- then we had a party after our honeymoon and celebrated with friends and family (much less expensive as venues didn't see this as a "wedding").

Our end goal and “why” is to be able to move our family to some acreage and raise our kids on a little hobby farm.

However if you find the right multi family building (let’s assume a 2-4 unit, which will still qualify for a conventional 30yr mortgage) buy at a discount and are willing to put in some sweat, you should be able to gain 10%-20% immediate equity through cosmetic improvements, such as paint, carpeting, lighting, etc.

and yes...one long commute indeed but I also live with the family so saving $$$ is key ;)

I currently own a single family home with approx $300k in equity in Long Island NY and looking to get some insight. 

Investment Info:Single-family residence buy & hold investment.