Just make sure you set up a LLC to rack up the required experience.

In my basements tenants have access to they totally disregard the access required and block the pathways needed for access.

We only require a soft credit check as well. 

You said public water was available...would the lots require a septic system to be installed or is public sewer available? 

I have been told by a contractor that the foundation of the building is intact, so it does not need to be torn down but requires a "gut renovation down to the studs."

Wholesalers are not regulated by Real Estate Agency, therefore not required to abide by certain laws and disclosures.

Finding these guys will require someone local or a lot of luck.

We require a minimum credit score of 620 (averaged between occupants) to qualify.

Multi-family properties many times provide a better return per square foot than single family, which would be to your advantage as well.As long as you're mindful of the reinvestment requirements and purchase at least as much as you sold and use all of the proceeds, you shouldn't have any issues with this strategy.

Aside from what everyone else wrote, note that adding units require various steps that you may not have considered (e.g., adding a new street address with USPS, etc.).