In my relatively small town of Bellingham, WA, with less than 90K people, we still have close to 30 distinct neighborhoods all with a unique place in the RE market.

I have been both the renter and the landlord in such situations.The use of the term 4 plex would almost always refer to legally distinct living units where there are 4 units, one title to the property and each unit is self-contained.

I think that distinction makes all the difference.

Representation and how it is viewed and set up can vary by state.In GA for instance a buyer can sign a buyer brokerage agreement or the representation can be filled out at the time of offer in the purchase and sale agreement.Some states allow dual agency (representing both buyer and seller in a fiduciary capacity as a client) and GA is one of them.Another option is Designated Agency where a different agent under the same brokerage represents the buyer and the other agent for the brokerage represents the seller.A buyers agent will usually select on the purchase and sale that they represent the buyer with the offer.The listing broker/agent if a buyer was unrepresented could select dual agency,designated,or as a customer only.If as a customer only as the listing broker/agent there is no duty owned to the buyer other than performing ministerial acts as a customer.There is a very distinct difference between a client (fiduciary acts) and a customer (ministerial acts).

Keep in mind, South Florida has some VERY distinct neighborhoods that are quite different.

So, it's important to note the distinction and rehab knowing that your top price will likely by the appraised price, and not what you can get someone to offer.2.

When the kids head to college, however, that is a very real and distinct possibility that we will be looking into for them - rather have room and board paid by someone else if at all possible during those years.

Chicago proper has 77 distinct communities & when you add up all the suburbs the number of communities is well over 200.  

Amazon bldg big distinct for instance just outside SA along this corridor to hot both cities w it's 2hr delivery model.

Therein lies the distinction, though a slippery one due to the word "equity/equitable", of a tenant versus a CFD/LC/Installment contract buyer's rights and role.