4 plex in Salt Lake - looking for a good buy. First investment!

[Jay Lalik]

I am looking for a 4 plex in SLC. I will owner-occupy with my wife. I have a VA loan ready to go, I just need a deal.

I know the 2% rule applies to rents. The nicer units that are currently available on the MLS on the better side of the SL valley (east side) seem to have no better rents than those on the west side, even though E side units are $550k and W side units can be had for $370 - $450k.

It would be nice to make an immediate financial change for the better (townhouse we would sell costs $1100 mo inc. HOA) but long term would you buy in a better area and gradually force appreciate the property while raising rents?

The cheaper areas I am looking at are not slums, but they aren't as nice as the E side properties. Finding renters isn't difficult in the valley as a whole.

Any suggestions on whether to pay more or go for what looks like a value deal?  (Any UT peeps know of any off market 4 plexes for sale?😁)