Initial walk-through inspection checklist?

[Account Closed]

Hello everyone! I'm on my way to buying my first rental property - I will be doing a house hack with the FHA loan and am going to tour the property I'm looking to purchase soon. It is a four unit complex with 3 bedrooms and 2 bath in each unit - can someone please give me a checklist of what to look out for when I walk through? This is my first walk through and as an extremely young and inexperienced investor I don't want to be screwed over by missing anything on my walk through. Thanks for your help as always!

[Moises R Cosme]

Alex, the very first thing to do is call the town & ask them what the code requirements are for a 4 unit; in most markets a 4 unit is commercial, which will change the fire safety requirements for the building.  Second, I recommend hiring an inspector - it will be worth the money, a report from a professional will help you get a handle on the condition of the building and negotiate price adjustments if you need them.  IF you are dealing with an Agent, ask them (in writing) (1) age of the roof, (2) age of the heating system, (3) are the heating systems split?  If not, which units have shared systems and how is the bill split? (4) does each unit have a separate electric and water meter?  Most likely they do, but you should ask and get the answer in writing.  The key things are the roof, the plumbing, the heat, the plumbing and the foundation.  

Highly, highly recommend hiring an inspector; I have completed hundreds of deals & I still have an inspector go through on potential purchases.  If this helps, I would appreciate a vote.  If I can help further, feel free to message me. Congrats & good luck!!!