What are the density requirements?

@Dennis Bragg I especially agree with you that "thinking about older buildings.. some folks underestimate how well older properties can hold up".

@Kyle Trotman If you purchased with a hard money loan conventional lenders will require extensive seasoning to utilize the new appraised value for cash out. 

You should always require them to add you to their policy as "additional insured" or "additional interest" and you will be notified if they cancel or change their policy.

There are lots of folks Bigger Pockets who feel they have to carry a gun to show vacant units.  

My lease requires professional carpet cleaning, which would cost more than $500 for a home of that size.Yes, it's reasonable to reduce the cost because she was such a long-term tenant.

Some folks will use their own cash to add so they don't have a mortgage. 

Since this four-plex is in my region, I will be the one taking care of maintenance and management while the investor won't have to worry about anything but to receive the money haha.Let's confirm a few things before you get questions from a bunch of other folks on the forum.How much of your own cash/equity are you planning to contribute/invest to this deal?

That being said, there won't be any down payment required since you have equity (you're guessing ~55,000 but I wasn't sure if you were meaning the property is ballpark worth ~$175,000, or more than that). 

You'll need more capital and most will require a personal guarantee and personal financial backing.