Although, the city has poured a lot of money into the sports complex in the area, and the renovation of Interstate-4, I am not convinced that the area is appreciating in a way that Investors can make a great return on investment.  

Mostly I see SFR developments and large apartment complexes last couple years. 

There could be many layers of complexity on top of this, depending on the factors I mentioned in the beginning. 

For instance, in one complex I can only charge $1650 because hot water is electric and regular water is the responsibility of the tenant.

Mutifamilies come with a bit more complexity and potentially "unexpected" bills.

I'm looking for complexes that are value add with at least 50% occupancy but not 100 percent vacant.

I started out getting duplexes and SFH a couple of years ago, Last year I made the transition in Multi Family Apartment Complex Acquisitions and now my investment group raises private capital from investors, it's been great and I love working with others to accomplish mutual goalsOh man, we just heard the Greensboro/Raleigh/Durham area is a pretty decent area and the weather is a heck of a lot better than up here in MN!

The same market conditions that affect large apartment complex vacancies will generally also affect 4-plex vacancies in a down market.Advantages of having a fourplex is limiting downside risk and having peace of mind by locking 30-year rates (as some people have mentioned). 2-4 unit buildings also allow cash constrained investors to get in on the RE game, particularly with techniques like house hacking. 

So I bought a 32 unit apartment complex with 10% down.

The complex or units should be able to cover your $40k income and payoff your debt at the same time.