Any potential pitfalls or challenges you foresee?

Permitting delays, rising material costs, and contractor issues are all common.

I'd like a triplex or property with 3 homes on it which is common in that area. 

TWO (2) Title companies we've approached have told us that Deeds of Trust are NOT used in the State of Alabama and the commonly used security instrument used to secure "A Promise" promissory Note involving real estate is a MORTGAGE security instrument.

This is common, and you want to make sure you fully understand this before entering into an agreement.4.) make a good list of the deferred maintenance items.  

@Katie Lyon while what @Amanda Breck said is of course legally correct/true, up here in the "North Land" there is an additional piece of law that says Tenants have a right to "quiet enjoyment" or commonly called enjoyable use, of a rental property. 

These strategies will help you uncover deals outside the MLS, especially in Akron where off-market opportunities can be more common.

Commercial loans often are fixed for less time (5-10 years is common) with smaller amortization periods (25 years is pretty common).

It seems like a common challenge, and any advice you can provide would be invaluable.Thank you in advance for your help!

SubTo has some very legitimate MAJOR pitfalls, and risks.