No, however it's easier for tax reporting if it's going to be used for 100% business purposes.If mixed use, generally it's better to keep in the name of the individual. 

So Philly is a city composed of individual micro markets that vary from neighborhood to neighborhood.

However, I recommend you document the change of ownership and that the lease remains in place.You should only have someone else sign for you if they have the proper authority.

The one that is difficult to tell because of each individual tax situation is depreciation. 

You can do this as a private individual from your personal page but I think a business page is better just to keep your personal life separated.I advertise rentals all the time on facebook and it generates a lot of traffic for me.

@Zachary Pinkston I don’t know about that, it would be nice to get those as a triplex but I believe since they all have their own individual taxes on it they are considered each asingle family, unless he can find a way to get them reclassified as a triplex/multi-unit, I don’t see it.

I noticed that ListSource gives a lot of individual unit owner info in their MF lists when I search for buildings with 2-100 units. 

There is paperwork they need to fill out to give you the authority to speak on their behalf.

Is the median income trending up, etc.Once you start getting into individual neighborhoods you probably want to look at crime statistics, foreclosure rates, etc.Is it possible to find a deal in a well established market using the 1% rule?

@Anthony Polossine the first thing I would do is make sure the person that sold you the property, has authority to sell the property