Legally speaking, if you have agreed to an installment sale, I'm not sure if the stepped-up basis is applicable.

As you say, the concept is great and true, but the proper application in practice may not be as advertised.

Further, you'll need to ensure you get the proper insurance, and that has been more and more difficult in recent years.

@Allante Loper you probably have all the contacts you need to succeed - you just need to figure out how to properly leverage them!

Please work this material through your professionals and seek the proper advice. 

I was going to have to have the third floor sprinkled and have a commercial fire alarm system installed. 3.)  

My biggest issue is that I’m using personal funds as owner contributions to these accounts and money moves from account to account on a consistent basis, so I’m trying to be diligent in proper accounting. 

I will piggy back on the sellers project when he mobilizes a crew to do utility install and road work for his next phase, I will have them continue to my cul de sack. thanks!

But my biggest advice, make sure you properly comp the property. 

I see the value in not being overwhelmed because of a failure to properly build a situation with systems and organization.