I was considering getting just SIP panels from china, and reputed SIP panel companies in china says they do not ship electricals and plumbing as local codes monitor them closely.

It just makes the HO responsible for all work done to meet code. 

Think of the IRS code as a behavior incentivizer.  

These are professionals with additional training and a stricter code of ethics.

.- Do your due diligence: you want to make sure the property isn't full of problem tenants or code violations, and the seller is just using the financing to dump their property and problems onto you.Hope that helps!

No codes are working with it.

I am guessing you will find a an apartment building with 12 units zoned R12 or more or whatever special zoning codes they use for multifamily.

You agree that we may make a fixture filing, if we choose, provided that you and we agree that we may enforce rights in the Collateralized Goods under the Uniform Commercial Code and not under state real estate or mortgage law." 

These are professionals with additional training and a stricter code of ethics.

You can get a lockbox and keep it next to the water sprocket outside for their access or get a keyless entry so they can have their personal code.