They plan on buying this spring or summer.

@Cody JournellI guarantee you in the net five years, you'll look back and see this post as you are buying 50 units plus.

When I buy properties with way under market tenants, I have a "bad news bear" letter that I send out which introduces us, explains the current situation and tells tenants what the current market rates are, and for tenants not under leases, when and how much the rent will increase.

These loans typically have higher interest rates but can provide quick access to capital.I am a loan officer in CO, so I may be able to help you, as well as advise you on how you can increase your appeal to lenders.

I am here to answer your questions, so don't hesitate and set up a time to chat with the link below if you're interested in more insights as I am a loan officer. https://calendly.com/tycoutts

(options to buy down into the 6s but I don't see many people opting to do that). 

You could also instead: get a construction loan and buy a fixer home with no ADU and you build it yourself. usually - I see people buying a home like this for $650k to $700k and then adding the ADU for $100k where you end at $750k to $800k with a well renovated home! 

So don't buy rental but keep buying primary locally... you can even double your networth very quickly buy buying broken-home and flip it around. 

Looking for input in this 4 unit building that I’m looking to buy in east Garfield Park, are there here anyone with properties in this location.

Beside the “subject to” that’s recently become the subject of much debate we utilized  ”no interest short term owner financing”, the “2nd mortgage crank”, substitution of collateral, mortgage subordination, wrap loans, real estate “exchange” (not for tax reasons), sale - lease back, guaranteed rent payments, sale - buy back, land offered in lieu of down payment, zero coupon bonds as substitution of collateral, and a few others that escape my memory.