Shouldn't the first step be to establish the intended end-state/goal which in turn will help inform the proper course of action?  

I've been advised to establish accounts for each building. 

More businesses are moving in, the city is establishing new entertainment districts etc., and so a lot of people are revitalizing these old iconic neighborhoods of Birmingham.

Hello Daniel, I have not spoken with a mortgage broker yet as we are looking at purchasing later in the year / early next year but I planned on reaching out to one soon to establish relationship with different brokers and see what they can offer me.

Since you are just starting out I would suggest waiting a bit long to establish an LLC.

It looks like you are correct based on the last IRS disqualifed persons rules listed below, since the partners in Company B would be more than 10% shareholder partners in Company A:Disqualified PersonsYou, the account ownerA beneficiary of the IRAYour spouseYour lineal ascendantsYour lineal descendants and their spousesPlan service providers and fiduciaries (including advisors, custodians, and administrators)An entity (corporation, estate, partnership, etc.) in which you own at least 50% of the voting stock, directly or indirectly.An officer, director or a 10% or more share holder or partner.

However, if there are established section 8 tenants in place and the property is functional and the numbers work, it could be a decent investment if (and only if) you have the right management system in place for it.

Its pretty well established all the way out to Rural where you see the new developments.  

Not only will they be potential future advisors, lenders or partners, but friends that will have your actual interest in mind as experienced veterans who will give you unbiased opinions and advice.

I would certainly recommend chatting with your financial advisor