Nothing 3 or 4 unit will pass the FHA self-sufficiency test, unless you are going to get the property for at least 30% off of fair market value. 

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

To clear it, you often have to do an expungement or a quiet title action via a lawyer which gets expensive quickly.   

Having too many will cause for overlapping of properties and then it goes to procuring cause in which one gets paid. 

In which case you can get 5% on 3 month CD.

I had the lightswitch moment after investing in NC for a while and I would get ok cash flow, but the properties I owned all doubled in value in about 5-6 years and I realized I could appreciate my way to financial success much faster than I could cash flow my way there. 

I would get a couple of other opinions on the quotes that are coming in and what you are being charged.

Quote from @Carini Rochester: Since you inherited the house, you get the stepped up basis.

My wife works for Ferguson, and I know many contractors, so I can get a lot of materials at cost.

Yes I understand that possibility, that's why I try to build relationships with the builders that I work with so they know that I'm trying to get them a good deal and I know that I can trust them with any potential contracts.