One was a SFR (4 bed / 2 bath) and the other was a duplex.

There is space for an additional 1 bed/1 bath unit (possibly a 2 bed).

Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.

I am looking to move into the top unit occupying 1 bed, and looking to furnish the other 3 bedrooms and purpose sharing the one bathroom, with a midterm tenants.

Here is HUD's Fair Market Rent policy for Wayne County, which shows 2020 max for 3-bed was $1266 INCLUDING UTILITIES.https://www.huduser.gov/portal...HUD also has set policies that limit rents: https://www.hudexchange.info/p...Where is your proof to support your claim of S8 rent for a 3-bed in the City of Detroit with $1250 rent without utilities please?

I own a property in Austin (3 Bed 2 Bath).

Purchase price: $575,0005 bed 3 bath house needed a rehab.

Contingencies for fourplex properties include inspection, financing, appraisal, rental income, and pest inspection.

Another insights i am looking for is also the most optimized property size, is it 2 bed/1-2 bath or should i go bigger with 3 beds/2-3 bath?

I just had an offer on a 5 bed 3 bath STR in N.