Kindly let me know what difficulties i could face and also rewards.

Price protection, travel rewards, cash back, etc.

But these abusive landlords buy big, rent-regulated buildings CHEAPLY, harass the tenants, pay low taxes, evict as much as then can, and reap the rewards of their bad behavior.That's incredibly unfair to someone who buys at a premium and plays fair.So there is a disconnect on Each Side and it's a very difficult problem to solve.

I'm looking at a 4 plex, but for my first deal, would like to know from someone what numbers make sense from a risk/reward standpoint.

For some investors, they have a lot of time to do BRRR take the risk and try to gain the rewards. 

My wife and I closed on a property in the Matthews area in Feb which did require some value add but if you’re willing to put in the work and/or hire it out this market will reward you.

We have been house hacking for the past year and it has been very rewarding but challenging too as I am sure all of you house hackers know.

But he did give himself & the Lt Governor a 40% pay increase, rewarding themselves for a Job well done.

There is certainly a risk associated with the reward, and it sounds like you thought this through with your plans to refinance.

each of these will take a different approach and has different risks and rewards