I typically would follow the don't wait to buy real estate, buy real estate and wait, but current prices are so inflated that unless you find a hidden gem somewhere I would hold off on buying multi-family.

That assignment of beneficial interest being not recorded it will be hidden from the mortgage company.

Don't forget the hidden stress of those 9-5 jobs - little job security, little opportunity for growth, minimal chance for wealth building, office politics, having a boss, the job itself. 

I'm not sure if death/estate is a consideration for any of the properties I'm reviewing; however, even if it is, I'm understanding from your instruction there is no financial loss for me; and if an heir later becomes known, the gain would be interest.  

I provide a move-in checklist a few weeks before that gives them instructions on utilities and other things.

They do fine, they sometimes find out that the “deal” they got has hidden issues, but they cash flow and never take much risk and earn money very slowly building up units.

I meet with a notary to sign everything (in my location) and then the packet is returned to the title company, along with my transfer of funds instructions for completing the sale.

Manufacturer's instructions usually supersede local codes in most cases.

Older properties can have structural defects, hidden water and fire damage, end of lifespan plumbing and electrical systems, clogged sewer lines, aging driveways, roofs, windows and siding.

@Peter Brisette, You're accountant will have to give you an exact number but hand grenade math will have you with a capital gain of around $80K after selling costs which would be at 15% fed + whatever state rate for your locale - Ballpark $ 12K fed tax.The hidden bugaboo is gonna be depreciation recapture which should be at 25% - ball park it at maybe another $7K of tax.