Wethink it’s important as it allows us to check for Non-Sufficient Funds (NSF) issues and to determine if anapplicant is living paycheck-to-paycheck.

I recommend you do some market research on the price points to purchase and what you can get for rent to answer the question yourself.Regarding a 3 to 4 unit, If you decide to use an FHA loan make sure you research the FHA self-sufficiency guidelines. 

Since you're purchasing your first home, you likely don't have this rental history.Lease Agreement: While a signed lease agreement is a positive step, it might not be sufficient on its own for a lender to consider the rental income in your mortgage application.

I did not know that triplex/fourplex would require self-sufficiency test.

Regarding not good credit, I usually request a co-signer and copies of their bank statements showing that they have sufficient reserves in case anything arises.

Typically in California, a Will alone is not sufficient to avoid probate - which is a pain, time consuming, and very expensive. 

You’re spot on, you can potentially use a 3.5% down FHA loan for new financing if income and rents from the other three units are sufficient.

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

If the equity is sufficient for the down payment and qualifying for the new property there are some excellent HELOC or even fixed rate second mortgage programs available.

I think we've answered the question sufficiently at this point.