Difference Between SFH And Multi-Family
It seems to me that Multi Family homes are a better choice for cash flow then SFH. For almost the same purchase price to get two rents. As far as I can tell, the rent you collect on two apartments is usually a bit higher then the rent you'd collect on a single unit of the same size/price.
I feel like I'm missing something. Doesn't it make more sense to own Multi Units? 
You're generalizing. Some SFR are better than Multi-Family Homes, some are not. Look at each deal on a case by case basis and make sure it fits into your investment scheme. Money is money, no?
-Chris
[addsig]
True, money is money. I guess it's just most of the deals I've looked at so far seems to have the Multi being more profitable. I'll keep looking at all possibilities, though. Is there anything trickier about purchasing the Multi? (Different loan, insurance, etc....)
It's 3:30 am and I'm tired and will keep this short.
Browse the forums. This question has been discussed a number of times. In short:
SFR's:
more competition
easier to finance
more motivated sellers
Multi's
less comptetition
can be tougher to finance
slower appreciation
can bury yourself faster
economy of scales
more landlord type of problems
You can find great deals in both. If you're new to the RE world I wouldn't go any larger than a 4 plex off the bat. You may hate landlording. You may love it. You may have to get 3 jobs to support it because you bought it wrong and the roof just went out. BUT you will learn.
I feel that the advantages to multi's far outweigh SFR's. I haven't expressed this very well in this post, but have in others. Good luck, and good night!
Jcstrang to piggyback of what Hibby76 stated. The loan process is very much the same for a 1-4 unit purchase. Once you go over four units, you will need to apply for a commerical loan. Now things get a little more complex. The LTV for most lender will be 70%, you will need to show more data to to support ability to repay the loan. You will need more data to prove that the property can pay for it's self, ie rental averages, maintenance fees, utilites, repairs, vacany rates and the like.
There is money to be made in 1-4 family units, I would stick with this type of property for the first few years. Good luck
Beware, along with the potential increase in $$$ from a Multi, you will also have increased insurance premiums, sometimes 4 to 5 times that of a SFH. I have both and just now have made the decision to buy SFH from now on. True, the cash flow may not be as great now, but I don't have to mow the lawn, shovel snow, and later in life (15 yrs) when the loans are paid, I get a great cash flow. 2 Family homes are great, anything over that, to me is more trouble than there are worth, times spent vs money in bank or time spent vs ability to find more deals = $$$ . Great success to you.
Tom