Buy and Hold Property 1 - 4 Unit Property / First Investment

[Account Closed]

Hello,

I have recently decided that I want to purchase a 2 to 4 unit multi-family property either in and around the Madison, WI MSA or within a 30 minute drive from the City.

This acquisition would be my first direct real estate investment, and I want to make sure that it goes well, and that I purchase in the right market. 

As a new investor, I want to make sure that I complete as much due diligence as possible prior to writing an offer to purchase to avoid any surprises that might come up, after I am committed towards a purchase. 

I had some questions that I wanted to ask members of the community, some of which would be specific to Madison, WI and Dane County, WI investors:

(1) What types of due diligence related documents is it standard to expect a seller of a property to share up front prior to writing an offer to purchase on a property (for example: lease agreements, a recent P&L statement, etc?)

(2) What are the standard key metrics that are used for comparing 2 to 4 family investment properties to each other, for the best apples to apples comparison?

(3) Which banks in the Madison, WI and Dane County, WI area offer the most favorable financing terms to investors? 

(4) For an investor that doesn't have a real estate license, does it make sense to work with a residential buyer agent for finding 1 to 4 family investment properties, or would a commercial broker be the best way to go?

Thanks for sharing any valued advice, thoughts, and feedback, as I explore the best options for my first direct real estate investment opportunity. I appreciate any and all thoughts and input.

Cheers,

Matthias