Hey BP,I am in the process of making a final decision about buying this 4 unit flat, independent layouts under the same roof.

We only use AirBnB as their cut is low, the management tools are intuitive and we haven't felt like managing multiple calendars with other services.

Lead paint and pipes, asbestos, layout/design.All that being said, if you are talking to the owners, they should be able to let you see the inside of the house.

As for lot layout I have found our proposed floor plan will fit on the lot with out adjusting property lines (5' side 15' front and back setbacks) I am also in contact with a civil engineer to asses costs of utilities and going to visit the building dept.

While very excited, I am concerned about the weird kitchen layout.

I should probably add that in there.Anybody who receives this layout is generally somebody who I've spoken with already and it isn't intended to be a marketing piece.The estimates on the wholesale fees ($5000) serve as an average to expect from typical wholesale deals in our market ($60k-$80k ARV)Thanks so much for taking the time to review and reply Eric.

The lay out of the house is so poorly done, it's tempting to just knock the entire thing down and start over.

Take emotion out of it.The only thing I will shy away from is a weird lay out... like do I have to walk through a bedroom to get to the only bathroom in the house? 

You can create an LLC, give a third to each of you and two friends, and then lay out the way the capital investments will work, operating expenses, profit distribution, etc. 

Tim- I really appreciate you taking the time to really lay out some ideas to try and your own experiences.