Now I will give my opinion on buying a four plex verses building one. 

Purchase price: $160,000 Cash invested: $45,000 My parents my wife and I own the property next to this one.

@Ian Kibbe the city zoning will determine if you can add a third unit.

I have deals of all kinds, right now on my last three deals for some weird reason one come from wholesaler, the second from MLS and the third knocking a door.Having a partner in looking for deals is critical so you can brainstorm and make sure that is indeed a good deal.

At appraisal it was worth $500K and it is in a neighborhood where homes that are on a third the size of the lot are going for $800K.What's the best way to get a loan, about $150K, to rehab his house and get it ready to sell. as mentioned, I recommend getting a loan to rehab the property.

It would be a live in rental.I would have one bedroom to myself with access to the common areas.

No one knows, even the people saying they know might not really know. 

I have not talked to him one time.   

@Stephen Schroeder it would be fantastic for PMCs to be able to charge owners as you describe, as owners might then truly appreciate everything their PMC does for them.Unfortunately, no one has yet devised how to practically do this.So, PMCs' absorb most office & admin expenses and are compensated for them via the monthly fees they charge their clients.

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