Quaternary mixed-metal chalcohalides are an emerging material class for photovoltaic absorbers that combines the beneficial optoelectronic properties of lead-based halide perovskites with the stability of metal chalcogenides. Inspired by the recent discovery of lead-free mixed-metal chalcohalides (MMCHs) materials, we utilized a combination of density functional theory and machine learning to determine compositional trends and chemical design rules in the lead-free and lead-based materials spaces. We explored a total of 54 materials with (II) = Sn, Pb; (III) = In, Sb, Bi; Ch = S, Se, Te; and = Cl, Br, I per phase (, , and ). The phase is the equilibrium phase at low temperatures, followed by and . The fundamental band gaps in and are smaller than those in , but direct band gaps are more common in and . The effective electron masses in are significantly larger than in and , while the effective hole masses are nearly the same across all three phases. Using random forest regression, we found that the two electron acceptor sites [Ch and ] are crucial in shaping the properties of MMCH compounds. Furthermore, the electron donor sites [(II) and (III)] can be used to fine-tune the material properties to desired applications. These design rules enable precise tailoring of MMCH compounds for a variety of applications.