For example, do I start with following planning restrictions  to the letter of the law?

Maybe you ought to spend more of your time on raising money legally and forming Partnerships that keeps you in control and buying apartment complexes.He ideally looks for a 6 to 8 cap rate. 

Check with the city if this is a legal 2 unit building.

Owner would therefore face a large capital gains penalty upon selling the asset.Would it be possible/legal to execute a master lease option with a buyout that is intended to outlive the seller such that they can have fixed income for the remainder of their life, and such that their children can receive stepped basis by inheriting the asset that is already under contract (which was obviously written to be binding upon successor's and heirs).

You should be learning the legal way to raise money and forming Partnerships and buying apartment complexes under your control. 

Legally the operating LLC is acting as the owners agent by making decisions on leasing, maintenance, repairs, etc.

The kind I do not like are passed on from their parents who never learned to work so they expect you take care of them.There are some restrictions and annual inspection most have to do with safety(railing), smoke alarms, and sanitation....

Legal Fees $2400 Deposit Required for the mortgage - 20% - $35,000Right now rehab - 22,000Property improvements and correction of deferred maintenance over the next 2 years - additional $24,000 Mortgage payment - 871$ / monthWater - app $200/monthProperty Tax - app. $300/monthGrass/snow - quoted by a local company at $274/month (1800 for snow for the year, 1500 for grass for the year) Insurance - $140/month (got a great rate not cheap insurance) The heat source and hot water is natural gas, New furnaces and water heaters installed in 2015. 

Hello,I recently had a major plumbing project done on my multi-unit building. I signed a contract at the beginning with a GC that was more general than I wanted considering the large price tag, but he kept saying that...

However Insurance company today served us (LLC) with a legal suit to get basically out of some parts of the tenant's lawsuit and including passing legal fees to us.