My initial price range for this purchase is between $120k to $150k, the market is very competitive in Omaha for this price range but I am confident I will find a deal with persistence. 

Some help if you have...So I decided to take the conventional route and managed to save up a 20% down payment on the 150k-250k range of multifamily properties(2-3 unit preferably).The savings actually comes from the work I’m currently doing to help with the covid efforts or else it would take me about another year to save up this money again due to the good debt I have right now(5% interest on student loans).To get specific I’m looking at a 35-40% debt to income ratio right now solely from my student loans unfortunately.

This created a glut of homes in the "pre-flipped" price-range. 

If they leave, you rehab and relist at the top of the market range.

Why is there such a wide range of CAP RATES for Multis in Worcester? 

If you do not want, or can not use your VA loan and are still planning on living in it, think about using an FHA loan with a smaller down payment in the 3.5%-5% range.

Tons of renovated modern homes there at that price range.

This means that sellers with homes that are priced in the correct range don't have to accept low-ball offers, the market will provide a buyer willing to pay in that price range.On the other hand, if a home is significantly overpriced then the correct offer is a 'low-ball offer', meaning an offer closer to actual market value. 

I explained to them how they could try to move a little further out of the city where things are in the high $300k range and maybe get a finished basement and rent that out (househack), but they are clear that they do not want to be responsible for tenants if they have to sell.

The unit does have a gas water heater, gas range, dishwasher, fridge, and two window AC units I provide.