That said, it has become an extremely competitive market.  

@James Tsuffis , I apologize for the late respond, just came back to the US after visiting family abroad.It is extremely challenging (trying to keep it on the positive side...) to find a decent 4-plex in B-C area around Los Angeles or better areas of San Fernando Valley, with my low-newbie budget, and still use it as the main residence.

I currently rent in the area where these houses are available and their is an extreme shortage in rental housing and I don't see that changing anytime soon.My biggest concern with this deal if I do continue to pursue it and the numbers look promising, is coming up with the down payment.

Unless they are an owner occupant, meaning they actually satisfy the requirements to be considered an occupant, they are not considered a "homeowner" for the purpose of Dodd.

Congrats @Arary McGowan  this is extremely motivating to me as I'm new to Real Estate and looking to become a whole seller.  

I really want to make sure my end buyer is satisfied with the purchase.

First, any area where the soil has a heavy clay concentration and temperature extremes is going to have similar conditions. 

Unless there is some historical value or the building is extremely good condition AND the new property is nearby and easily accessible I would say the "play" on this is to push away from the table.On a completely separate note, when I put in the @ mark to tag you, I don't get the normal name list popping up. 

Generally speaking, I would not buy a rental unit in a building with a maxed rental cap unless it was extremely undervalued and I could flip it for a higher price.

In Indiana though, the law does allow you to collect 8% interest per annum until the judgment is satisfied or the statute of limitations has expired, providing you have not sought an extension.Am happy to answer any questions.