You can configure the settings to match your investment strategy, its connected to the Heartland MLS, the layout is easy and user friendly, and customer support is prompt! 

Ways you can counteract some of that disadvantage: higher earnest money payment, a quick close strategy already configured with your lender, willingness to accept as-is and build required repairs/renovations into the purchase price, coming in above asking price if you are confident it will appraise, or using the process to wear down the seller (i.e. once it doesn't appraise, the seller either starts over with someone else or accepts the new price). 

I'm sure we will run into the issue that it is cold in apartments on the 1st floor and hot on 2nd/3rd which will result in tenant complaints and/or upstairs tenants leaving windows open to regulate their heat (I had this issue in a similarly configured 5-unit building).  

@Bob SandersYour IRA could be configured as self-directed and that would allow the IRA to invest in real estate. 

Each tenant pool has different characteristics, which defines the type, location, configuration and rent rate of the properties that will attract your target tenant pool.

Its usually a case of adding, or re-configuring, a staircase.  

Get an idea of the configurations and cabinet sizes.  18"', 24" 36", etc.Research the Kitchen Triangle ( sink, stove, fridge)Then, get on craigslist and search for "Kitchen Cabinets" or "Used Cabinets" you can pick up a whole kitchen for about a thousand bucks including appliances.You can put a dishwasher within a few feet of the sink.  

This cost could vary greatly depending upon how the existing system is configured.

But now that I've narrowed my target to SFR, I want understand why the 3/2 sub-category, so to speak, is the most popular as opposed to other configurations.

For example, are rents at FMV, are vacancy rates at normal level, is building being maximized for rent potential in terms of configuration and are reported expenses what I will have, just to list a few.