Why is a townhome more desirable then a condo?

It is in a desirable neighborhood and according to comps, has the ability to generate positive cash flow.

Bottomline, you can get solid returns w/experts, diversify better, while still not having to give up your desire to be a bit more active.  

On a side note, we have been pre-approved over the amount of price ranges we have been targeting.We came across a beautiful 4 unit/8bdrm townhouse (built in 2016) in a desirable part of town.

Just wanted to get some second opinions.Mike my 80% desire was 80% of BPO/ARV the BPO came back at $50k so 40k still met it.  

I don't have the time or desire to be constantly looking for, rehabbing and flipping properties.

Also,  in regards to negotiating a deal,  I want my first offer to be low enough to allow room to negotiate up to my desired price,  but I don't want to be so low as to cause offence, how much give is there when negotiating?

It'd be pretty simple to convert back to 2 units in the future, if desired.

@Whitney Hill, If market value is $415,000 and you're going in at $335,000 offer her free rent back until her desired timing is up.   

You'd be doing well if you could find something even slightly undervalued (which is likely your realistic best case scenario as an outsider coming into a hot sellers market), meaning that it will probably need a little work or updating.Lastly, whether you're able to find something technically below market value at all or not - I'd buy in a stable, desirable area/neighborhood.