The PM owns the listing, and for several important reasons. 

Property values have been appreciating rapidly in recent years, and the city’s population has started growing again—a trend we haven’t seen in decades.I’m also based in California and have been investing in Detroit for several years, so I understand the concerns of out-of-state investing.

DIL is a slightly lesser hit than a foreclosure and you wont get a new loan for several years after. 

I have bought and sold several properties across Chicago and Barrington area over the past seven years, and was a real estate agent for 2 years in my early twenties.

To clarify, I have been studying real estate for several years, but have been otherwise engaged in operating  other businesses that my wife and I both own, both as CFO and CEO roles.

For several reasons (property taxes, politics), I would prefer to begin real estate investing somewhere other than locally. 

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?

I have about $400K to deploy, but would prefer to buy several duplexes rather than 1 more expensive building.

An LLC doesn't make a difference in your federal taxes or what you can deduct.What you want to do is technically possible, but there are several hurdles. 

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?