Some inspector fail to remember or ask themselves does this meet code at the of conduction for that year it was built? 

Making A Space To Work Start by setting aside a space in your home for working, for doing deals, and conducting your business.

If both entities exist and both conducted business in the form of money or contracts or titles, then I believe both need to file taxes.

From what you've shared, it sounds like no business was conducted.

Paper trails and rational conduct make it easy for them. 

The Sheriff sale was conducted on 8/2015, so more than 5 month has past.

Sounds like you are well on your way and will be pulling the trigger soon, I think at this point you should have been able to conduct enough studies to determine the major challenges that exist as you define multi and single family.

You should be conducting yearly or even better twice a year inspections. 

I am looking for a property not simply as an investment but to conduct my retail store business.

Provides that the Secretary of Financial and Professional Regulation shall conduct an examination of each licensee that engages in brokering and lending activities, the scope of which shall address the delinquency rate of the licensee's loan portfolio.