I would keep rent a little below market, then split the monthly bill between the tenants on top of rent.Old houses in cold climates get expensive in the winter.

I would appreciate any advice on anything I may be missing with putting this together or should neogotiate before finanlizing.Negotiated so far:Property: 9 Unit - 7 Apartments + 2 Commercial Garages (4 unit apt building + 3 unit apt building w/ commercial garage attached + standalone commercial garage on same lot)Background/Why owner is selling: A seasoned builder of 50 years, the owner purchased the property in the 1970s for around $8,000.00, later developing three apartments and two commercial structures.

@Chanel Snerling if you're going to rezone in those Neighborhoods, you'd be better off going with max number of units possible.What construction project development & management experience do you have?

There are people that develop cabins.

That being said, I've been moving into development.

Department of Housing and Urban Development (HUD) and Bankrate, the big perks of an FHA home loan are:Lower Down Payments: They typically require a smaller down payment than conventional loans, sometimes as low as 3.5% of the home’s purchase price.Lower Credit Score Requirements: They’re designed to help buyers with credit scores that might not qualify for conventional financing.

Quote from @William Dorrough: I currently either purchase and value add large scale multifamily properties or develop, and build ground up my issue with scaling is we have done this without brining in investors i have a great deal flow with a good track record im really looking to do more i have the capacity but have the need for more capital in one way or another  Scaling without investors can be tough, especially in multifamily.

Losing a house to unpaid taxes can be devastating, but there might still be options. 

Adding a single small unit is very expensive development.  

In July of last year a roof leak developed and caused damage to the ceiling in my unit, to the point there was partial ceiling collapse.