If they each qualify separately, then I see no problem. 

In many cases a land contract transfers so many of those burdens and benefits that you are deemed to have purchased the property even though deed has not conveyed.Depending on how much runway you want or have to sell your other property either a reverse exchange coupled with owner carry financing, or a lease with a separate option to purchase would be best. 

Especially if the floors are separate units because they could use the electric from each unit.

"Important that its a DEAL not RETAIL" I said"Ugly needs Cosmetic work, can add equity with upgrades" I followed up We gave out Price range and Target Area we want to live....HE says "he will send houses that fit our budget in our area" but"can't separate out out houses by condition" so I basically will be getting any house that comes on the market that fits price and location. 

If it's not separately metered by unit, owner should pay this entire bill and build the cost into rent.

I own a 4 unit building (single family home converted to 4 separate units) by the University of Cincinnati which is rented to students.

I Have other LLCs and INC and i want to keep them separated from my none real estate related LLC/business.Any suggestions?

You would need to segregate the funds (separate bank account) and be able to prove qualified business use.

If you made a $10,000 improvement to an existing property in 2019, this improvement is a new asset (separate from the original purchase of the property), and you start depreciating it in 2019.

Will the units have separate meters for water, power or gas?