Purchasing 4-plex and owner Occupied with existing tenents.

[Cody M.]

Hello all! 

As title states am interested in purchasing a 4-plex, owner occupying one unit and renting the 3 other. Can anybody offer insight for which things to be mindful of as part of our due diligence before purchase? Few things off top of my head are: 

- Reviewing existing lease agreements

          - Rent roll 

          - Tenant payment history, on-time payments?

          - Security deposit transferred over with interest?

          - Tenant application and screening reports, background check, etc

- Unit walkthroughs

- Inspection by quality inspector

Few questions I have are, whats your thoughts on:  

1) Rent estoppal letters from tenents? 

2) Meeting current tenants? 

3) Ensuring one of the units is vacant by closing? 

Are these ^ MUST-HAVES to protect ourselves before making a large investment or am I being over the top. 

Thank you for everybody's input 

Cody