A very important factor about debt risk is your debt service coverage ratio.

Does Property Radar have coverage for St.

With all this information I prepare a comprehensive report with all the data.The results of this work is many times rejected by prospective buyers as "too low estimates" or, "comps" are too high.

The 3 books I read when just beginning and the books that are recommend for others who are just getting started in apartment investing are:1) ABCs of Real Estate Investing by Ken McElroy2) Wheelbarrow Profits by Jake Stenziano & Gino Barbaro3) Multi-Family Millions by David LindhalI am also currently reading The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges as recommended by another BPer so I would definitely add that one to the list as well.For someone new, I also recommend reading them in that order as I feel each one is a little more comprehensive than the one before it.

Getting a 4 family is probably your best bet because your DSCR (debt service coverage ratio) will be higher even if you decide to live "rent free" in one of the units as the other three units can likely still cover the cost of the mortgage.

Get insurance coverage when you close and put new locks on the doors.  

They are the most up to date and comprehensive leases in the state and membership is $50-100/year.  

@Eric Neal sorry for not clarifying, I meant your insurance coverage for personal property and liability, I don't think that's covered by the exterior insurance...

There are a number of licenses involved in servicing...the type and coverage depends on state regulation and the type of services to be preformed. 

Get insurance coverage on your properties as soon after you close as possible to help protect you if something bad happens.