Occasionally clients will pass angry mail recipients off to me as "the source".

Or would you use these properties as vacation homes occasionally? 

Mostly because the net income by then will be around $500 or $600 per month per house which is more than enough to handle the occasional big ticket repair.The one thing I will say I understand is that I wouldn't want to have to count on my real estate income to replace my job income at a 1 to 1 basis.

Occasionally, they don't even have it then!

Occasionally you will run across a listing that lists actual numbers.

I agree with Anson that a multi-unit would be great, and occasionally I see one that works for an owner occupier, but you could probably do just as well with a couple condos.  

If you're starting out and need a lower price point to get into a property, if you're not interested in maintaining mechanical or roofs, if you want managed costs (HOA's) versus the occasional big ticket cost (hot water heater fails), they can be a great option.  

My wife and I are very excited about this opportunity and we have decided that we want to focus on 2-4 unit multi-family investments with the occasional SFH for buy and hold purposes.

Sure I have strong opinions, and occasionally I am forcefully and publicly WRONG.

For me, the benefits that make it worth it are...1) Credibility with sellers, buyers etc.2) MLS access3) The option to list the occasional property if I want and earn extra cash through a comission4) Not having to rely on a realtor for  realtor related tasks like gaining access to properties for sale.