Based on the income approach:For a 4 plex in a B neighborhood accross the street from a school, 2 churches, and a few large employers in a town of 40k.

Or a coffee shop, or church, or in line at a theater!

I recommend investing in places where you travel, e.g. work, daycare, church... that way you can maximize your tax advantages while visiting places you normally go.  

I have lived there the majority of my life, and the location (right next to private school/church) bumps the ARV a little.

@David church is the investor that runs the group.  

Timothy Church I am trying to do my research on how taxes are handled and I am starting to agree with you. this is all foreign to me but I understand most of it.

@Timothy Church Good points.

Ask everyone-friends, family, people from church, people from work...all you need is a few good ones.

The ability to get conventional financing along with below market rents (managed by a church) makes this deal especially appealing. 

The beauty of this deal is the below market rents due to poor management (owned and managed by a church) ... and because the way it was listed, there was less competition.Are you planning to self-manage or hire a property management company?