commercial is more passive. You can find deals all day long under 2million with or without tenant. Multifamily is more work but can have more upside. It just depends if you are going to be a value add investor or a cash flow/passive investor.
Under $2m for industrial, office, retail is going to be very labor intensive. You'll get slaughtered on your time on retail tenants in a Class C center. You could consider a STNL, but under $2m is a lot of cash buyers and very competitive space.
I'd pick up as many multi units as you can, value add or not, just let that grow over time.
commercial is more passive. You can find deals all day long under 2million with or without tenant. Multifamily is more work but can have more upside. It just depends if you are going to be a value add investor or a cash flow/passive investor.