Seems as though it would cash flow a lot less, especially after we rent out all 4 units.In the end, it would be a temporary living situation while we decide what the next step would be, the wife isn't a huge fan of the 4 plex idea, but she sees the end game.

Questions to ask ones' self:1) Are similar units valued at $61,666/unit2) What are conditions of time limited items (Roof, Mechanicals, etc.)3) What is the Market Vacancy Rate for similar units within a 1 mile radius4) Are there any "Value Add" opportunities available on this asset5) I mention Cash Flow...what does my NOI tell me it's worth6) Could I make than $533/mth if I invested my Capital somewhere else7) What are the Local Market Conditions telling me to do - Will I be able to exit from this property in the future for a loss or gain based on my homework8) Is my Capital "safe" in this vehicle - Risk Assessment Acceptable to me9) Did I account for all of the expenses, projected expenses and can the building live out my projected hold term without any major capital improvements and if not did I account for them in my projections10) Since I know this is a Business Decision and not an emotional decision...does this acquisition make Business Sense to be in my Portfolio (Core Model)If you can answer these questions and determine that this is a good fit for you, and you're happy with your return, then it could be a good deal...to you and that's all that matters until you go to sell it. 

It means that you are either getting emotionally attached to the idea of not letting a property get away, and/or your gambling demon has returned.

It keeps the state from telling you what you have to do if something happens to this marriage."2)  Don't be so eager to get into REI that your emotions make decisions for you. 

COC is temporary and does not take the whole picture into account.

It appears that there were some had had sister boards installed along with a temporary support. 

You may be emotionally involved and make unwise choices.

The list is truly infinite but in short, anything that you can remotely justify as related to your 'business' or a business-related activity (i.e. driving to Lowes for paint, phone bill, phone payment, car insurance, car payment, car repairs, home office expenses, home office depreciation, temporary housing, laptop/equipment purchase, etc) you should keep track of and turn it over to your CPA when the time comes.

Prospective tenant has an emotional support animal and sent me one of those cards that you purchase online (assuming).

When you let non-math and/or emotions influence you investment decisions, you should be prepared to accept the low to average returns...and then rationalize that they are the norm and not low to average.