Don’t use your entities as an alter-ego.

While 1 million dollar sounds like a lot, after putting aside about 100K for reserves and if you need another 100K for improvements of the properties you'll buy, you'll have enough money left to buy only about $3,200,000 in properties, which depending on what neighborhoods you'll buy will translate anywhere between 4-8 buildings.Why buy three-four flats?

Yes, if alter structures you need HOA board approval with permits etc.

Remember that higher returns, whether actual or proforma, almost always translate into higher risk and / or volatility.  

What do others do?I let both parties on the lease know I am happy to amend the lease to remove one of them, but they will both need to sign it to release one party from the lease.Anyone else dealt with this before suc...

You may have to alter your original scope, eliminating/scaling back some things such as the windows or other non essentials to cover the must do’s like a/c, electrical, etc. 

It has a learning curve for sure, but it is a really powerful program capable of doing everything you've asked about, and makes it incredibly easy to translate into sheets for permitting and construction.

I now have an enlarged image of the check I received from the deal that I have altered.

I am in the midst of altering a large floor-thru 1 bedroom apartment into a 3 bed/1ba apartment.You very much need an architect on your side to assist you with possibilities and sobering realities (just like mine did!)

Stay away from fluffy 'business' courses that do not translate into an actual skill.