Appraisals, Lenders and Rates : Beyond the transactions that were literally in process (sales, listings, leases, seller carries) are properties that remain amongst vacant lots.

Competition remains strong but it doesn't mean your goal is impossible to reach.

Living in one unit and renting out the others allows you to deduct 75% of expenses like mortgage interest, property taxes, insurance, and shared repairs as rental expenses, while the remaining 25% applies to personal use.

When I add a new tenant to the lease, the original contract terms remain in place.

“The merits panel now has the appeal, which remains expedited, and a briefing schedule will issue forthwith.

Even if I take the 15% tax hit I would make $32,000/ year on the remaining $400,000.    

The canceling tenant remains responsible for rent, utilities, and other charges until a replacement takes over.

The remaining four applicants made a combined income of $2,000. 

This would help you get going.You might be able to make these a  little nicer and force appreciation and a little higher rent.Either way rents will go up over time and the mortgage with remain constant.Maybe even make one unit a STR which could see higher income.I'd be ok with break even or a little bit negative on a Quad given you have 4 properties in one.If you're only breaking even you still have depreciation and other tax write off to help you out.I usually make people 3 offers.

One of the best ways to engage with the community is to remain active in these forums (reading & contributing).Setting up keyword alerts is a great way to get started.All the best!