The 4-plex would produce around $1000/mo cash flow after financing, and that financing would recover your total build cost leaving you with no money in the deal at the end and an "infinite return" for CoC.

@Brett RiemensniderYou don't need to provide anything to your tenants tax-wise.

Yeah, they hit Quest with an order (with which Quest was complying before being sold) – after Q had stepped back.

Did lenders reactivate HELOCs after the rates increased?

Take good notes, ask good questions and then, and only then, after you have completed a transaction and feel confident, should you ever try and venture off on your own.Think of it like this...... you can drive without car insurance. 

If you decide to sell and find an investment property with a greater cash flow potential.A 1031 exchange would allow you to indefinitely all of the tax and use it to your advantage to reinvest into larger nicer property/properties.

However, when you combine the income from both the units, I think you will end up with more income after a year or two than with a SFH renting by the room.  

Depending on the amount owed I might pay it off after I’m under contract to do a property inspection and ask for the money back at closing.

Quote from @Jacob Campbell: Hello - After listening to the podcast, I've made a commitment to purchase a rental property by the end of Q2 this year (ideally by the end of Q1).

Heya Ethan.I've completed 7 secondary suite renovations/developments now and it is extremely difficult to do a true BRRRR where you pull every dime back out again after you refinance.