Should I focus on just securing funds for the down payment and closing costs or should I be concerned about creating some sort of reserves for said rental property (to account for any vacancies and expenses)I assume I need to make sure that in the event I cannot rent out the property we are able to cover the expenses relating to this house in additional to our own personal mortgages but I’m not too worried about this (please let me know if I should be worried)Outside of my mortgage and some credit card debt which will be paid off by the end of this month I do not have any other debt.Are there other factors that I should be considering?

Any interruption of Tenant’s use and enjoyment of such appliances shall not constitute “constructive eviction,” nor form the basis for any defense, set-off or counter claim by Tenant.Tenant agrees to pay as additional rent an amount of no less than $200 per visit or the actual cost of service invoiced by a third party plus $50, whichever is greater, if a tenant-initiated service visit is performed and the request is deemed to be frivolous or without merit.Charges for service/repairs performed where the tenant has been determined to be liable/at-fault for such charges by [Landlord/PM] shall be due and payable in full upon the next rent due date as additional rent.No smoking is permitted on the premises, including outdoors within the property's limits.

Simply build in the additional “double payment” into the overall deal costs and start looking now.Best of luck!

I told them their current agreements would be maintained but had them sign new agreements with me that had my additions to their current agreement.

They are multi family properties and one of them even has pre approved plans from the city for an additional 5 units (literally ready to break ground).

This "deal" is clearly cash flow positive and will be a nice addition to the portfolio.Insurance= 250Vacancy= 415Maintenance= 250Mortgage= 1500Management= 350Taxes= 800Utilities= 100Capital Expenditures= 250

On my end though, I do feel like I can handle the additional responsibility of managing the fourplex.

This may be a simple question but curious in today’s climate of rising interest rates (mid-2018) , does it make sense for long term buy and hold investors to pay for points to buy down the interest rate or keep the cash on hand instead for additional properties.  

My bid for wiring the two units is about $10K and then there are some additional charges for the external panels, the garage, etc.

I will explain in greater detail.I put alarm systems in all my houses in addition to smart lock and a smart thermostat that are all linked to my alarm system and a amazing web interface from Alarm.com.