This will also allow you to avoid taxes on the sale.

It avoids having to pay the capital gains and lets the property keep appreciating while you still own it and reap those future rewards and more cash-flow from the property in the meantime.  

Just have a few questions before we get to deep into the process:What are some common mistakes that can easily be avoided?

No matter the number of units, there is one roof, one property tax bill, one sewer line, one gardener bill, etc. 3.

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If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.

Quote from @Travis Smith: Age 56 and retiring from farming and I’ve been very good at avoiding income taxes with depreciation and business expenses.  

Your loan will be $1,100 a month, add insurance and property tax.

You may be able to deduct mortgage interest and property taxes before the property is in service. 

But the only way to have a definitive answer and avoid "likely" and "possibly" is to analyze your plan with your own CPA and find ways to boost your hours.