Can't wait to dive in, uncover knowledge and possibly meet some other realtors/investors.

Do people even test for it upon purchase inspection or do most not uncover a potential issue?

There are a few details to uncover here to determine the next best steps.

I think that is always recommended and it is something I do.My inspector has uncovered things they werent aware of and has also alerted me to issues to monitor to make sure they are rehabbed properly (for instance ensuring that the electrical scope included adding additional circuits because the current number was deficient).

If you want to blend a home with 3 rentals then you are likely to end up with a 4 plex that does not cash flow in the same way as it would have if all the units were rentals.

A visual inspection and a pressure test should uncover most issues. 

But my personal answer is to BRRRR, it's a great blend of both Flipping and Buy and Hold.

I disregard those and focus on comps that have a realistic looking calendar where there's a blend of available and booked dates.

I think your best option is to do some kind of blended portfolio into real estate. 

However, they are proposing dissolving that partnership and allowing original investors first opportunity  to participate in providing an additional 22% of our original investment, speculating a hold until 2026 with a 202% return on the new funds, resulting in a "blended return" of about 36% total return of our original+ new invested funds.