Duplex Under Contract, Now What?

[Taylor Johnson]

I just got an apartment style duplex under contract two hours ago. I have a 10-day inspection period and want to take full advantage of that time. What due diligence do you do you recommend for investment properties? I will get an inspection and have the contractor go through the property more thorough for estimates.

Prior to my offer, I checked public records, visited the property twice, including once with a contractor, and was conservative with the numbers. This will be my first investment as a house hack (live in one unit, rent out the other). Apart from an inspection and a contractor walk-through, what other steps do you take? Thanks! :)

[Jason D.]

Look at the financials. Get the Schedule E for the property, see if there are any red flags. Are there leases in place? what are the lease terms and do they work for your situation?