Hello All,I just purchased three 4-plexes on the same block a couple months ago and things are going pretty well so far.  

I was looking online, and getting a fourplex, renting out three of the spaces and living in one of them, and creating a positive cash flow sounds nice, but the question is.. how?

The tenants ended up having three cats and were willing to pay the extra money for each of them, so we settled at $700/mo!

these are the three areas that we are doing very well in here in Georgia.

My plan is to acquire a total of three buy and holds and then pay them off as quickly as possible before I aquire more.

.), that's normal.I have properties in various parts of NYC and depending on the area and the firm I use I end up with one of three scenarios:-1 month fee, landlord pays: up and coming areas of town (eg; Bushwick, Bed-Stuy a few years ago)-1 month fee, tenant pays: lower end/mass market brokerage firms, use this option for "run of the mill" properties-15% fee, tenant pays: higher end/"name brand" brokerage firms, regardless of specific area. 

For example you out grew it, it was a two bedroom, but you got married and had two kids (a boy and girl) and now you need a three bedroom (a little hard to pull off in one year unless you have twins =) ); the other option is that the first property you financed as an FHA is a very far commute to your work, and now you found a closer property that you need to relocate ( the properties cannot be in the same city if you're using this reason and I am not sure how far apart they could be).  

You can find a good "Chevy" of a home with three to four bedrooms, and not pay the price of Sugarhouse.  

On the podcasts  even the big guys had to fire two or three terrible ones before they found a good one.  

Offer to him three other options to help him wrap his head around that he will be transitioning out of the place, then let him choose one.