First deal help and analysis

[Account Closed]

I am looking at numbers for my first deal. The property is near Oklahoma. It is a multi family property with one building. It has 4 separate "units". Each unit has a common kitchen and common area. Each unit also has 3 bed rooms with a full bath. Total: 4 units, 12 rooms in one building. My plan is to rent to college students on individual leases. Rent: 450/month Asking price ~ 340,000 I'm working on obtaining pre approval for 20% down. Hoping to get a conventional fixed mortgage. Is this possible? I have my personal mortgage and will not be living in the property. I have toured the unit and am comfortable with overall structure. Will need to have detailed inspection of course. Can someone point me in right direction for pre purchase further due diligence. The property has a large attached grass lot that I hope to one day expand to. Do I just call the city and ask about zoning? Thanks!

[Joe Hughis]

@Account Closed  - I think we need further clarification on what you mean by "separate units" as it relates to them having a "common kitchen" and "common living area".   Do you mean this property is set up more like dormitory that has four suites connected to a common area?  If this is the case you may run into challenges with obtaining conventional financing for this property since the property could be classified as special use.