@Joseph McElmeelHey JosephThe fha has a lending requirement for fourplexes that could cause you issues and that is the self sufficiency test.

The next thing would be connecting with a lender and seeing if you can find any properties that pass the self sufficiency test if looking at 3-4 unit buildings.

So if not NPV, what's my litmus test?

I wouldn't worry about getting a real estate focused accountant just for this simple test.

There are IRS tests determining who is a 1099 vs W2 and then you have your state specific Department of Workers Comp that will have their own definitions of who is an employee and when you would be required to carry Work Comp insurance.To complicate matters there are a few states where the State itself maintains a monopoly on providing Work Comp insurance and the state is the only place to buy work comp (my state is one of those so I can't even sell myself work comp insurance if I wanted to).Here is an article on the three different methodologies the IRS may use to classify someone as W2 vs 1099.https://www.everee.com/blog/irs-independent-contractor-test/If you are really in doubt call your state's work comp office and ask who they define as an employee. 

I tested 5-6 people on Fiverr who claimed to have access to Lexis Nexis, TLO and such skip tracing tools.

The main restriction on using the Section 121 exclusion is the ownership and use test.

Not to mention the ground work was already laid and tested during covid on residential segment now wasn't it.

I am open to A/B testing the market in mid 2024. 

The pass or fail test of cash flow is taking more significance than all the other positives it brings.