Tips for 1st timer purchasing a 4-plex

[Katrina Dividina]

Hi, we already submitted an offer letter today for a 4-plex asking price $310k (2beds 1 bath) and we are the 1st one to offer them after the previous buyer's financing fell through, the seller agent sounds promising. 2/4 tenant contracts are inconsistent with dates and the seller said that he lives in 1 of the unit which is not consistent with contract dates. I asked my agent to have the tenants fill up an Estoppel Letter. What else do I have to do to make sure we will not be dealing with inherited possible evictions or tenant issues? My husband is a handyman and can handle technical issues but we are scared of dealing with inherited tenant issues. It's our first time in multifamily. I have 2 SFH rentals never had major problems on it. Thank you for your response.

[Bjorn Ahlblad]

Whether it is single family or multifamily; non paying inherited tenants is what you need to identify. Don't buy someone else's dog!