Make a phone call to your commercial lender and ask what cap rate they use to under write small multifamly in your sub market.

I don't think I can put a phone number on here, but if you google them you'll find it.

If the separate leases stated that each individual was personally responsible for 1/4 of the total, then I would agree entirely with your assessment.This information comes directly from the Rental Housing Association of Washington State (RHA WA) and directly from their attorney's whom I just got off the phone with.Either way, I appreciate the help and advice! 

I've spoken to @Basit Siddiqi on the phone and he's provided me with very helpful information.

@Stephen Lynch  My mom lives in the area, but I get rent paid through etransfer or post dated cheques and I can deal with problems over the phone or email.

Given that I also have their phone number, should I also give them a call?

They have to connect to an internet connection but you can easily solve that by setting up Wi-Fi in the house or using a cell phone hotspot.

A more conservative approach would be to put on the sign “looking to buy your house” and your phone number....this would look more like a “we buy houses” sign which most are used to seeing.  

I highly recommend a phone call.

Our property is in a small town so not everyone has a computer but they do have a smart phone.