Since all units are located on the same land and considered one property how can I verify these dwellings are up to code and won’t require costly modifications after purchase?

My long term goals are to buy and hold commercial multi-family dwellings.

-AustinGoalsQ1 2018- Build a network and begin to understand the elements of REIQ2 2018- Begin to seek wholesale deal for a BRRR strategyQ3 2018- Complete rehab on property and get it occupiedQ4 2018- Refinance property and start search for more2019- First multi-family dwelling2020- Have 5+ properties in portfolio2021- Look for deal/partnership for large dwelling complex (15+ units

Zachary,Your primary residence will qualify for $250k ( $500k if Married) gain exclusion if all following requirements are met: You owned a home and used it as your main home during at least 2 of the last 5 years before the date of the sale.The gain exclusion is unavailable for any gain allocable to a portion of the property sold or exchanged with respect to which a taxpayer does not satisfy the use requirement.For example, if a portion of the property (separate from your dwelling unit) was used for nonresidential purposes, only the gain allocable to the residential portion is excludable under sec 121.So allocation of the exclusion based on the sq footage is reasonable or any other method that is reasonable.

First house I flipped was under my name and now goal is to get everything formalized and really stream line my business.

In general, I'd recommend making sure that you've secured one income stream (typically your W-2 job starting out) and building up some cash for emergencies before investing.

Now you can include the labor cost in your total project cost.Let's also assume that your county tax assessor has determined that 20% of your property's value is attributed to the land, and 80% to the dwelling structure (called improvements).   

When evaluating the value of a potential purchase you have to also include this life-of-investment income stream.

Tenantcloud has this setup through a payment processor called Dwell.

Use this continuous profit stream to buy into the cash flow properties you're looking for.