Interested in purchasing my first Quadplex and need advice!

[Evans Wright]

Hi Eveyrone,

So I am brand new investor and thinking about pulling the trigger on a quadplex.  Here are some of the specs: Built in 07, 2 bed/2.5 bath, 1372 sq ft.  When originally appraised the owner said it was $167.5K per door when he built it and is asking $600K for the whole thing.  Right now he is charging $1000 a month to and said the rent should be raised to $1200.  According to those stats im assuming it fits the 1% rule for what he paid to build the property.  

My train of thought right now would be to take out a VA loan with no money down and live in one of the units until I move away. So considering this is my first property I have looked at and still have a lot to learn I am looking to you all for your thoughts and is my course of action the best way to take or are there better options.