Early 2017 investment, assumable, high 3s fixed-rate debt with a 5-7 year expected hold period.

Start small, build a reserve fund, and work with local experts to ensure your first investment is a solid one.Good luck!

I’ve had concerns about the crime rates so I’m trying to only buy in the better sides of town.

funds only go into interpleader after months of sitting in escrow. the court just does not hand the money to the seller either.. if not agreed upon the funds go to the state etc.

I have been on New Western's deal list as well as another bigger local company and everytime I underwrite these deals there is very very minimal left on the bone let alone contingency funds for going over budget on the flip...

The reason I say this is that with a 5+ unit a lender will evaluate based on NOI and a cap rate, so adding a 5th unit COULD (or could not) substantially increase the value of the building and make it worthwhile to refinance and pay off the existing loan (that is tied to the "old" quad) anyway.

I've also seen it where legal counsel has had each of the spouses form their own single member LLC and those LLCs purchase the new property as tenants in common.Food for thought - You'll almost always get a better interest rate and terms buying as yourselves. 

Yes. we finally have an APP that lets us provide a rating for the renters.

Is it high appreciation area with a low rate mortgage?

Being owner occupied means getting the lowest interest rate, and a conventional or fha loan.