I don't know your criteria for a good deal, but if you're strictly looking on market for a quad in Raleigh you likely won't find one in the near future that meets what you're looking for.

While they are very nice and I believe good people, I have had a few deals fall through after months of hard work on them because they do not fight for the deal in my opinion. 

I have about $1M liquid currently but wouldn’t want to invest more than $200k on a property.

John is it for Protection of assets or do you have other long term goals like getting a  Business Line Of Credit ?

Hello, I am planning on purchase two triplexes that have a single water meter for each property.

Or, at least the company's offering them in other states think Texas law would not look kindly on the product so as you point out they do not offer in Texas. 

Check out other online guides available here: https://www.biggerpockets.com/guides3.

If you are building from scratch, see if you can buy a corner lot to build a duplex that has one driveway/garage on one street and the other on the other street-they look more like a large single family home until you go around the corner. 

I’m thrilled to join this vibrant group as a first-time homebuyer currently under contract on my first home! 

Based just on income and rent, he can't afford the unit long term, and he likely knows that.