Hey all,My wife and I just bought our first small multi family (fourplex) that we intend to owner occupy.

I also wonder how much 2-3 brand new furnaces and ductwork would affect the appraisal as this is would be a BRRR.  

An exception to this may be where one of the units is a commercial unit like where you have a store on the bottom floor and 2 residential units upstairs. 

I bought out my sister's appraisal company in 2016 after working for her for 7 years.

I'm brand new to BP and just getting started in the learning process.  

If you bought the property for 70k, can you rent it out for $1,400; or 2% of the amount of money you purchased the property for?

I bought in wareham, ma. 

In my personal experience - I bought my first property and GC estimates before I out the offer in was $250-300K for the rehab. 

I bought the house from an experienced investor going through a divorce, and it was viable as-is.With something like this -- you've got no team in place out there to deal with the kind of tenant demands you're going to get from someone who feels a personal need to pay rent on 3 bathrooms for 4 bedrooms.

I bought my first property a year ago and looking to get more.