The ideal property would have a value add component (big surprise I’m sure!).

In the absence of title insurance--which is not available for a quitclaim deed--the person receiving the quitclaim deed has no legal recourse because the deed itself states that only the interest of the grantor, if any interest exists, is conveyed.Whether title insurance terminates by transferring real property depends on the type of policy, and how “insured” is defined in the policy.

Even multi family is considered commercial, with any commercial component, I’m surprised to hear that a residential lender would lend, though, again, not sure what you are referring to when you classify the loan as “residential”?

Thanks I’ve got a comp on the property through an agent and ran my numbers with repairs and I will be selling the house myself.

(d) Issues a written report of property value that is prepared for another person and that is not an appraisal, as defined in s. 458.01 (1).https://docs.legis.wisconsin.gov/statutes/statutes/452

@Amber Landry Depends on how you define "investor friendly"...you looking to borrow or just a solid banking experience? 

There are many components to successful acquisitions, similarity, composition, how to value, value-add and other. 

Roofs, vehicles, furnace, etc are each depreciated on their own schedule as defined by the IRS.

Sounds like that may be even more of a concern when you're working in lower income areas, as they're probably going to have more issues.On top of that, the property is listed as a 4plex, yet the county records show it as a triplex with a garage (so they likely converted garage to an additional unit), and the "land use" is defined as single-family (which is confusing, because the same page says the property is a triplex).Will be talking to the current PM hopefully today to get his opinion on the property and area as well.

If you go to court the judge is going to say what did you both agree to, let me see your lease.It also defines expectations to the tenants and what is acceptable and unacceptable behavior.It defines how much the rent is and how much deposit you are holding.