4 Unit Opportunity

[Harrison Nicholson]

Hi Folks,

Looking for some advice. I recently started my real estate investing journey. This spring I turned my single family primary residence into a rental property and purchased a duplex which I live in one side of. I have recently found an off-market 4 unit property for sale. It is priced well and is in an area which I work. Part of my job includes managing properties, both short term and long term, because I am so familiar with the area I have a good idea of what the potential for this property is. 

There are two concerns about the property that I have however. First it requires significant rehab and I worry it may be more than I am comfortable with as this is the area of real estate I have the least amount of experience with, specifically dealing with contractors. My first question, is what resources (books, episodes etc.) would you recommend I look into in order to analyze the the potential rehab costs to ensure the numbers continue to make sense? 

My second concern is because I have recently purchased a duplex in March I fear that I may not be able to finance the deal using a traditional lender. The 20% down payment would be doable, although not ideal, as I would like to keep a healthy reserve for my other two properties. The more pressing issue would be how can I pay for the rehab to make the property a success and complete the BRRR method. My second question is how would you approach structuring the deal ( Perhpas with a local credit union) or would you suggest a seller financing arrangement?

Thanks for your input and look forward to any advice you may be able to provide.

Harrison