@Eric McginnAccording to my Fire Marshall, and this may differ depending on your state and municipality, if the building is three stories or less you only need one fire rated means of egress.

Long story short, looking at a Fourplex that would provide around a 5% COC return in my area given my financials/situation (Gallatin County).

The tenants still have three months to find another rental, but they are now stating they won't be out for seven or more months.The landlord has been more than reasonable.

I'd imagine if it is a 2 story home with a bathroom only on one floor, that adding a half bath to the other floor may be a good idea. 

Also @Tim Phillips something to be aware of in FL, all condos older than 30 years and taller than 3 stories are required to have a "Structural Integrity Reserve Study" performed before the end of this year.

Also to @John Steffen's comments about stories.

Especially if you have documents to prove your story.3.

I'm comfortable with putting together estimates for the rehab, at least for the up-front financial analysis prior to getting real bids from contractors.What I'm less equipped to do is project the lease up story based on supply, demand, and other factors relevant to the area.

Be sure to search the forums for more depth.Long story short, I got started in arbitrage in 2016 before it was even referred to as that. 

I'm sure everyone on this forum who has invested in KC can tell you at least one horror story about a PM company.