While the property has demonstrated tremendous potential for us to this point; acquiring it came with many hurdles.

This 4plex is in a class C or D neighborhood (not exactly sure which) but my realtor and I saw the potential in it due to the cash flow/COC numbers we calculated and the fact it had a ton of work done to it in 2017 to get it to decent shape (all new electrical, furnaces, HWHs, renovated apartments, new roof, all doors and windows, etc.) 

Definitely something LP's should strongly consider when vetting out a potential GP. 

Screen potential tenants thoroughly with applications, background checks, credit checks, employment verification, and reference checks.When screening potential tenants, it is important to use industry-standard forms and reliable screening services to ensure compliance with fair housing laws.

Obviously the homes I am looking at will be in potentially run down/less than desireable areas... the key for me is to not be in the "go in that area and you get killed for being there" areas. 

From the real estate you are going to be getting Passive Activity Losses (PALs) which is depreciation to offset passive income, potentially reducing your overall tax liability.

The property has three floors, and I'm looking to potentially convert it into multiple rental units.

I had always wanted to work in real estate and saw the potential in this deal.

I had always wanted to work in real estate and saw the potential in this deal.

I was looking for a single family residence for me to potentially start a family in one day.