Getting ready to buy my first 4-Plex. What are things I need to know that I might've overlooked?
Title says it all, going to buy it as an owner occupied unit, will rent out the other three. Offer will be subject to inspections but to the naked eye everything looked really nice, have a pre-approval for the loan. One unit is 3-bedroom with 2 baths, while the other 3 are 2 bedroom with 1 bath. Thank you for taking the time to read this and any advice you have to offer. 
[{"id": "ck91p3p", "text": "4-plexes are residential, not commercial, real estate. 5+ units are commercial real estate. \n\nMake sure you have a great property inspector. Get tenant estoppel certificates. Research market rents for that area.\n\nWhat city and state are you in?", "replies": [{"id": "ck9d3ga", "text": "Is there a firm line there?  I have heard both...", "replies": [], "depth": 2}, {"id": "ck9do2f", "text": "I'm looking in the Bay Area, CA", "replies": [], "depth": 2}], "depth": 1}, {"id": "ck943yw", "text": "Build and keep a large capx reserve. Vacancy and maintenance can kill your budgets really quickly if you are not prepared.", "replies": [], "depth": 1}, {"id": "ck94h7w", "text": "Look at maintenance logs, evaluate for big repairs done recently and that may come up in the future (roofs, new kitchens, bathrooms etc..).  Check the rent logs and annual expenses and just make sure the numbers are worth it.  ", "replies": [{"id": "ck9dq1l", "text": "The current owner of this particular property bought it in April and put in 60k, according to him, to fix up the place. They all look nice but I will wait for the inspection reports to confirm that.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ckexxgp", "text": "Here is a link to an magazine article: http://personalrealestateinvestormag.com/featured-blog-posts/investor-looking-to-buy-apartment-building-asks-about-out-of-the-box-due-diligence/\n\nAlso, google \"apartment due diligence list\" and you will find more common tips about how to look at the financials, etc. \n\nI hope you find it helpful. Good luck", "replies": [], "depth": 1}]