I LOVE the idea that it requires ZERO amount of my own money and using the power of GOOD debt. 

I am asking cuz, even if the house needs tons of work, still have permit, water, septic system, electric is in place.

can reduce capital gain by 15%,,delay 4-10 years or even avoit it after 10 years...3- A $12M commercial building can save up to $600k taxes every year if you can qualify4- Can save up to 28% in expenses every year if you have a maufacture, laboratory, dentist, doctor, storage office, etc...Pretty powerful... 

If you triple the value, you should expect the taxes to triple as well.What about water/sewer, shared electric or other utilities, lawn care/snow removal (if applicable), trash pick up, admin and professional fees?

North Florida, hurricane / tropical storm area....So, with the damage being done by the POWER not being on, the floor can and will separate from moisture...

When looking at the deferred maintenance before purchasing, we had calculated a lot of the big ticket items (like insulation in attic, power washing repointing brick cracks, etc.) and we had even included things we could see like missing doors.

Baseboard electric? 

Can the electrical be run from the original house? 

There's power in knowledge.As far as your analysis:Closing costs will likely be 2X this on a commercial property.I'd plan for more in initial repairs, especially if the last unit isn't finished.Your mortgage expectations aren't in line with most commercial products.

- Going to be remodeling each unit (new appliances, bathroom, countertops, refinishing floors, etc)- Changing heat from gas to electric because electric is metered so tenant pays- Adding AC to each unit, which will be electric also- Improving common areas- Improving curb appeal Might build 4-6 new units because the lot is very large What was the outcome?