Thanks JasonWhat I am understanding is that if the work being done is somehow faulty ( I think of a plumbing fitting attached wrongly causing a future flood) my property insurance subrogation department would come after my company for the $60,000 flood damage claim wanting my LLC to be responsible for the faulty installation that caused the damage.  

I have a few firefighting buddies who can do complete tear-offs and installation for a reasonable price and about a two day turn-around. 

This is becoming a popular option for cabins in the area to install, much more efficient than the baseboard heating many have and more practical than installing a propane system.My place: https://post.craigslist.org/k/tqTJaAlD6BGJPAqtBO1S...

This project is essentially a complete gut that will include addition of roughly 700 SQF, new roof, siding, landscaping, privacy fence, hardwood flooring installation, interior re-design into an open concept floor plan, upgraded kitchen with granite counters, new cabinets, stainless steel appliances, etc.

Just an all round person that can do cabinet installs and other finish carpentry and maybe light plumbing and electrical? 

It is called an installment sale.Here is an example: if the house sells for $200,000 and the seller's cost basis is $100,000, the total gain is $100,000.  

Since you are going to have an electrician do a substantial amount of work after the demo to install all the new circuits, I consider this part and parcel of the rest of the work they will be doing.

Possibly added value with kitchen installed downstairs...

If your goal is cash flow (in my opinion) you're better off trying to buy with owner financing (contract for deed - land contract, installment sale, mortgage wrap, promissory note with a first lien holder position on the trust deed for the seller (if they own it free and clear), or sub2.

I wasn't sure if I can raise the rent a bit to cover myself for the winters or try to zone by ripping out the boiler and installing central ac and heat in basement for unit 1 and ac and heat in attic for unit 2.