See what similar properties are renting for and their occupancy and see if this pencils out or not.

You might make it an AirBNB, or rent it by the room instead of to a single tenant, or rent the garage separately for added income. 5.

I'll live in the least valuable room/unit, and after the rehab is complete and other rooms/units are rented, I'll cash out refinance for the ~75% LTV.

-It's illegal for cities to regulate landlord rents and fees. 

There is a large population of young adults here who are not ready to buy yet or prefer to rent over buying a home.

He was convinced it was going to become a very popular location for WMU student organization meetings.Maybe it did and I missed a big opportunity, but I really doubt it

I would normally pass, but the location and deal is too good.

It has been tough for lots of people in this area for some time.Last year there was a "temporary" cap set on rent increases. 

As title states am interested in purchasing a 4-plex, owner occupying one unit and renting the 3 other.

I would just follow David Greene's method in his book on the topic: https://www.amazon.com/Buy-Rehab-Rent-Refinance-Repeat/dp/B0...Or could you check out my video on the topic which in my biased opinion is pretty good: