That IO loan has to have specific terms attached to it, and the entrance/exit strategies used on the series of individual properties MUST be treated as a string of properties...and not as indipendant properties.  

We immediately replaced the entire roof with money we received cash-back at closing, rehabbed all of the common areas (lobby, hallways, cafeteria, entrance), rehabbed the 3 vacant units, addressed the landscaping, resurfaced and lined the parking lot, implemented third party management (Vic Green Realty), and added a $25/m utility bill-back.

Private gated driveway with 3 power gate entrances, privacy wall from street and this home will have all the trimmings once completed.

My current 1 year plan is this: Use the savings I accrue over the next ~6 months from my Software Engineering position to make a down payment on a 2-4 unit multi family property within a 15 mile radius of my workplace (Shelton, CT), and house hack it!

Make sure your contractor is fully insured for workplace injuries, liability, etc.

I'm still not quite sure what all your after here, but if you're considering house hacking where you live in one side and make the other an Airbnb...preferably with two entrances.

We stepped it up a notch for this bigger home and put in marble kitchen floors (discount from a family member) distressed hardwood, removed most of the drywall, opened up the kitchen to the dinning, turned a 3/4 bath to a full and changed a hallway bedroom into a separate entrance bedroom.  

We have a phone line for our entrance gate access.

Apartment has to be liveable with no lead paint, secure entrances, no broken windows, etc.4.

One was parked by the entrance with two guys just hanging out and talking.