I bought a quad this year and had my property management company do a similar thing, but the only wrinkle was 2 tenants moved out and a 3rd was about to, so instead we negotiated "two stepping" the rent increase with the third tenant.

@Whitney Bivins if you exit this situation what makes you think you won’t end up in a similar spot a year from now?

Similar to @Mike Dymski, i plan to make all investors whole even if the $hit hits the fan.  

Renovation Considerations: Before starting a renovation project, look at similar homes in your neighborhood to get a better understanding of the repairs needed to compete in your specific market.

Even though it is a 4-plex, it still falls in the same bucket with similar loan structures as if you bought a single-family rental. 

@Vito DiIenna I'm now in a similar situation as you are, how did you go about obtaining the necessary documentation ?

It's similar to the whole "Short Term Rental" structure in that not only do we have to acquire the property but then we have to spend extra money to get it up to speed.  

I'd love to help you and represent you as a licensed agent in NC, should you be looking for a similar investment property.

I tend to get questions or concerns outside of business hours, which make it tough and frustrating at times to provide immediate replies (although I do get back to the guests quickly) I can't speak to Andrew's services but it sounds similar to what we do, and we are not limited geographically, so helping you in Atlanta would not be a problem.

I wouldn't have any issues with someone using LegalZoom or similar services.