Or, until you have a real estate empire then just file a Ficticious Business Statement and use a DBA and you can still get separate tax ID numbers from the IRS for each DBA.I am cheap and before making every business decision I often think about everything for several months, or even several years.

Aside from consulting with a real estate attorney to look over agreement and CPA/tax attorney to review financial implications/consideration of forming a separate entity (i.e., LLC).

First being that you need to separate the lots. 

Both units are separated by a fence but share the same address and utilities.My question is can I separate addresses and utilities and sell the second unit (1350 sq ft) as a Single family home? 

Then, open home depot site  and find out how much materials will cost.it will be a good practice.Last part will be collecting separate bids, and before you do that decide what needs to be done in specifics, like how many recess lights you will need...If you spend some time, it will be very helpful.

How do we get a second loan together or separately? 

You could...but it's probably more beneficial to get a separate loan on that triplex....unless you are thinking it would help you in some way that we aren't thinking of?  

It was filled with old clothes and items and had 3 separate ceilings.

I currently own three separate multi family properties and I’m looking to syndicate my next purchase with investors but would like to understand the best effective syndication model that has worked for others with investing in 20 to 40 unit properties.

Does anyone use apartments.com for pre-screening (since they do a credit check) and then have applicants who pass fill out a separate application (not with all the same details, but more specific screening questions)?