Hi guys, long-time lurker here. Finally got to the point where I've saved up enough money to get started and I caught wind of a Homepath 4-unit for 20k that meets my criteria:
-Heavily discounted because of its condition - I'm looking for a project for my dad and I to live in and work on (he's been home remodeling for most of his life). We have spent the last 3 weeks looking for the most distressed homes so this looks like its right up our alley.
-At least 3-4 units, looking to start out with an income property.
-A decent neighborhood. Not an A neighborhood but not a war zone either. I would be comfortable living there.
Besides the home inspection itself, what should I be checking into? I know I should be seeing if there's clean title and any liens on it (I'm not sure how to do this exactly, but I will research it)... Is there anything else I need to look for?
It's still in the First Look stage and my offer will be all cash, I'm not sure what kind of owner-occupied competition I'll be up against but I want to make a strong offer just in case. I think I've got a pretty good shot at getting it if everything else looks good.
Any advice much appreciated.
