I am aiming to purchase a fourplex, and owner-occupy one of the four units.There is a caveat to my plan though: I will not be the one who is the owner-occupier.  

I am aiming to purchase a fourplex, and owner-occupy one of the four units.There is a caveat to my plan though: I will not be the one who is the owner-occupier.

Would you suggest we contact a lawyer to handle the closing and aim for a closing date a couple days after the century 21 contract expires?  

We believe that our business is well-run: we have an in-house call center to generate greater sales, have have good revenue management policies for raising rents, we sell insurance, have a great website and access to sales leads, our managers are professional and well trained, and our facilities are clean.We are now seeking opportunities to expand.

Be prepared that there is often a lot of unwritten policy in terms of how the code is actually interpreted and enforced. 

I'd also suggest buy an umbrella insurance that'd cover you for damages beyond what your normal insurance policy could cover.

I was, however, very worried about the local Housing Authority policies regarding implementation of the HAP (Housing Assistance Payment) Contract.

If not, then I would insist that the tenant have a liability policy that covers his dog and you must be listed as an addition insured.

This may be because they do have more privacy to trash the place, and there is more square footage to trash per unit.You've discovered the podcasts; my other advice is to stay active on the forums, start thinking about what you want your landlording policies to be (don't just focus on property selection, but what you'll do after that), and set up some key word alerts to hear about the geographies or topics you are interested in.

The older buildings and value add type properties are generally underwritten with more risk hence the higher policy cost.