There will be multiple markets you can achieve a 7.5% cap rate especially if you're buying with cash.

I have not run into that yet, have you contacted them to share with them this misinformation?

To answer your last question, my realtor has contractor contacts I should be able to leverage for rehab budget estimates, as well as family friends with experience in the construction trades.

Yes. we finally have an APP that lets us provide a rating for the renters.

Early 2017 investment, assumable, high 3s fixed-rate debt with a 5-7 year expected hold period.

For lending, your rates are going to be higher than if you were to buy under personal name.

The reason I say this is that with a 5+ unit a lender will evaluate based on NOI and a cap rate, so adding a 5th unit COULD (or could not) substantially increase the value of the building and make it worthwhile to refinance and pay off the existing loan (that is tied to the "old" quad) anyway.

Do your due diligence and call references, contact employers, meet the applicant, etc.

I'm contacted by another landlord in the same town who needs help with a problematic tenant.

Especially when considering the tax implications, current interest rates, and if you don't have another purchase lined up.Happy to send you an analysis and proforma for your properties as they stand right now, kindly reach out anytime.