We promptly sent out a technician who determined that the AC went out as the shrubbery had grown to a negligent level around the condenser, causing it to overheat and the freon line to rupture.

Try to have them invest part of the down payment, to take some ownership interest and be responsible in avoiding any potential dangers.3, If you do want hotel business, then, try to get some with above 100 units, with an above mid-level franchise flag - like Hampton, Holiday Inn, Best Western or other similar ones.

Level  HVAC pro.

And don’t discount creative financing deals or buying off market properties at deeper discounts.

In fact it will probably be a closing requirement if your DTI is at critical levels with new debt.

Also keep in mind that if you buy a rental you will want to keep some cash reserves on hand to handle maintenance/cap ex - of course that depends on the condition of the property you buy, or the level of rehab you do if you fix one up. 

My research below from the Act's FAQ page says that the split level quadplex does not apply because it doesn't have a ground floor.

There's some serious competition at this level though because these places generally only needs light to medium rehab ($5k-$10k).

It’s a two story, the top level is a 2 bedroom apartment and below is a large 2 bay garage, office and bathroom.

It’s a two story, the top level is a 2 bedroom apartment and below is a large 2 bay garage, office and bathroom.