Questions to ask a real estate agent when buying a multi- family

[Joy Baker]

I'm starting into looking in multi-family homes. I'm currently going to look at my first multi-family home to invest in. What are some questions I should ask the agent while looking into this investment multi-family home?

[Monique Rene Coates]

My first 2 questions on a multi-unit, and especially a small 3 - 4 unit would be:

1. How long are the tenant leases on each unit?

2. Ask for one year of income / rent rolls and expenses

Keep in mind that on a very small multi-family, if you lose 1 tenant, that could be 25-33% of your gross income, dependent upon number of total units you own.  BE CAREFUL how you pick your tenants if you go this route.