(they'll need to be replaced every so often) 4-plexes have twice as many appliances, but you get twice as many families under a single roof (which will also need to be replaced eventually)Just run the numbers on each independently with as much accuracy as you can gather, and the better deal will start to emerge.

That being said, I do have a 25k HELOC I can use for emergencies. 

I also added a few bucks of my own to be able to buy properties faster.I almost NEVER spend the profits on anything but repairs, down payments, and an emergency fund.

If you have an emergency repair and lack sufficient funds in your SD account you may find yourself between a rock and a hard place.

You have to have reserve funds for that emergency water heater, HVAC or roof problem that pops up the day after you buy/lease option the property.

The plan for financing is to use a FHA 203k loan and finding a property that may need some minor or serious rehab to get up to a newly-emerging market standard.

@Shayna McHughI have a list of across the country of emerging markets I can send it as an attachment if you email me.Paul

Who will primarily deal with problems/issues/emergencies when they come up?

If you have questions about porch or deck safety, call the City of Chicago non-emergency number, 3-1-1.”

I like potential emerging markets personally.