Quadplex or four SFHs?

[Jon Huber]

Hello BPers... I would like to throw an idea around and see what comes up. If an investor dedicated 100k towards investing, and had the opportunity to purchase a four unit property (valued at 400k) with 25% down, or four individual SFHs in the same neighborhood (valued at 100k each) putting 25k down on each property... Essentially, it's the same money down, and the same property value. What would be the pros and cons of both? I like the idea of a quadplex because it would centralize my investment, thus making it easier to maintain. However, the idea of owning four individual single family homes is intriguing, as I could decide to sell/flip one or two, and not have the entire amount dedicated to one investment. I am generally a "buy & hold" guy, but I understand the value of having the freedom to sell a property in case I wanted to use the equity in something else. I'd love some feedback, as I am not 100% savvy on having 5+ mortgages, or other restrictions that would come from either scenario. Also, I understand the scenario is "simple" given there are outside variables to different areas appreciating, job growth, vacancies, etc. Let's put the scenario in a vacuum for the sake of simplicity and say that both options are on the same block with the same external circumstances.