Don't kid yourself - this is a cash flow play you're after.I recently purchased a 4-plex in May in the FSU area (a block north of Tenn St.) and had to completely renovate one of the units, so I figured it may be helpful if I drop some numbers on you as they should be somewhat relevant.....Purchase Price - $180k1978 build.  4 units - all 2/2sSeller paid 2% of closing costs.New roof in '13, new windows throughout building, new staircase, 3 of the 4 units had been completely renovated.  

If they are all going to be well under market value, you should have some equity room to play with and be able cut someone into the deal.

Pure cash flow plays in flat or falling markets is one sure way to increase your risk and to lose the real opportunity of having your money work for you.

I'm brand new to REI, and I'm considering getting my RE license - but I'm also considering not getting it haha.

Now, how it plays out and when and if the note gets called is another matter.  

Practically sometimes comes into play. 

People are still putting money to work in long term rental plays.  

so I'm currently negotiating a possible deal with a ms who's  getting old and wants to leave the wife with something so here it is a duplex 2bd 1bth both units occupied with brand new leases.

Well, 'maybe' I'm just too accustomed to playing by California's rules.

I am brand new to REI, I'm reading and learning everything I can right now.