For multifamily 2-4 units, I always aim for at least a 1% rent-to-price ratio and make sure the operating expenses don’t eat up all the income.

If the $200 is rent minus PITI it definitely won't cover your expenses.

You mention you are not making a lot of money (and living with your family and living expenses are very low).Real estate is local. 

we own in Clayton and are having a lot of success.

In addition, your premiums will increase if liability events follow you and you may be forced into exclusively using surplus line coverage which is more expensive as wellPerhaps if you have an LLC that serves as the beneficiary of the land trust you will have some protection, but a land trust alone doesn't really offer protection, especially if you are the beneficiary. 

I've also done out of state investments in multi family that were successful.

I've used them many times successfully!

I agree it's too expensive and very competitive around here.  

i get it, the LA area is spectacularly expensive. 

Success or horror stories?