I would get all common areas taken care of as well, but would just doing common areas and their unit be sufficient enough legally?

Think of it as a legal wrapper but in reality it is legal document that looks like a contract which you design with an estate attorney and you will fund it with assets such as cash, brokerage accounts, cars, boats, real estate, etc.

I know most (well lets be honest ALL) of the answers involve knowing the law or getting legal advice, but as a landlord you want to make sure you are familiar with the requirements because it will come up.

The other restriction is that you cannot have another 203B/K (only one at a time).So, you should be able to do a 203B, as long as you owner occupy the 4 unit.Good LuckJim

Closing costs are free for me due to a company legal plan I enrolled in.The assessed value is at 19k and the comps look to be selling at 20-24k.

If you want to be a host, but do not own anything, you can still do that and make money.Homeowners who don't want to have hosting duties can offer their unit(s), and a Host can opt to take it on.It is a great matchmaking opportunity for homeowners who have units, but don't want to do the work, and for a Host who doesn't mind the work, but doesn't have the inventory to both profit.Anyway, I just thought I would throw that out there since there is a legal, and inviting way to do what you are talking about without getting in trouble with a landlord OR take on any added leasing debt liability.

I am brand new to wholesaling and I just want to avoid any legal issues. 

Not licensed in Maine, and this isn't legal advice.

She is more than 2 weeks late every month she has lived at the residence (also, she is an alcoholic and hostile with the other tenants, but that's not a legal reason to terminate tenancy).

They do this for the tax benefit as well as the legal protection.