If the option is available, would you simply recommend purchasing such a property with cash to save on the hassle?

Cutting the price by $30 isn't going to really help.

I do need to grow my income without cutting down on the amount he pays me, so will need to figure out how to 1.) take on new non-competing projects that 2.) doesn't interfere with my hours at the contractor, as it is a stable paycheck.

No matter how this property is financed it will never produce positive cash flow with a value of 325K and rent at $1800.It simply boils down to how much money you are prepared to lose while you hold on.Every month you hold it eats away at your final pay off.

Phone screening before showing will cut way back on your qualified tenants, because some otherwise qualified tenants will be annoyed or offended by the grilling before they've even seen the unit.

They weren't built simply to cram as many house in one space, catering to commuters that drive back and forth to the city.

If they are literally identical fourplexes, you'd just cut your negotiated purchase price in half and hand the lender two signed contracts, one for each.

The 6th is simply the day that late fees kick in.

Here's my personal experience: If you simply want to setup an LLC and move on with your day, go with LegalZoom.

When their lease is up, I simply transfer their sec dep + interest to my account and then write them a check for that amount.