If anyone has gone through this experience, would really appreciate your help to determine exactly what licenses, permits and tax accounts are needed to be in compliance.Thanks so much! 

Now we're seeing investors pouring money into buying Class C rentals - but, many are getting burned.In our experience & opinion, the main determinant of property Class is not location or even property condition, those are #2 and #3.

Whether To file a 1065 partnership return or being treat it as a disregarded entity, Is the determination based on the location of the property or the owners' residence state?

To determine what to offer on a rental property:Determine reasonable market rent, NOT the highest!

Figure out market rents, deduct expenses to determine NOI, deduct cashflow you want, plug remainder into mortgage calc at current interest rate, then add lender's required down payment.That is how much you offer!

thats a monster pad. lol, it's a bit more to clean than the 988 sq ft house we were living in when we bought our 1st duplex. my 3rd house in Palo Alto CA was 900 sq ft 3 and 1  this is were location location determines value I paid 185k for it in 1985.. and sold it in 92 for 500k  doing nothing to it..

In absolutely no way would I ever depend on such a broad analysis to ultimately determine my decision.

Obviously every situation is unique it's on you to check with your intermediary and lender to determine what price range would be realistic to start looking for deals in before it closes so you are ready to roll. 

The investment city determines rent growth rate, appreciation, and income longevity.What determines rent growth?

What you should do is determine what story the house is already telling with its design and add onto it from there.