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Updated almost 6 years ago on . Most recent reply

User Stats

21
Posts
9
Votes
Michael Wilson
  • Rochester MN
9
Votes |
21
Posts

first time Multifamily inspection

Michael Wilson
  • Rochester MN
Posted

I just finished a purchase and sale agreement on a 4plex. I am planning on getting a regular inspection done, I might need someone to come look at the boiler, and I also want to get the gas/heat metered separately to the tenant. 

I am looking for suggestions on what type of inspections I should be getting when buying my first multifamily property. I also would love to know some of the first things I would do as my own property manager starting out as it will be owner occupied. I know that I need to review lease agreements and update them to my liking and make sure they are legally correct. I also need to make sure that I honor existing leases for existing tenants.

Any tips on my next steps in the process would be very appreciated. I am looking to minimize mistakes and maximize return.

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