@Neera MelwaniI recommend finding a tax strategist specializing in real estate taxation.

I also jJust ran a report for "total rent" (w/o cleaning fees & taxes) and while the 1st QTR(Jan-Mar) trailed lower, all my Smokies properties exceeded last April's total rent except one was lower by $98. 

One thing to watch for and to consider with your numbers are the taxes in Hartford, they can be very high!!

Could you hold a 2, 3 or 4-plex in an LLC, live in one and still sell the entire building as a personal property sale after 24 months (no cap gains tax)?

We chose the one on one because were overwhelmed with everything that kept getting thrown at us ( business credit, Tax professionals, call flows, marketing ect) and I knew all I needed was for someone to hold my hand for the first deal. ( that's what the sell factor was during one of the weekend events, was that the one on one would stay until I signed our first deal).

If the wholesaler is assigning his contract to you, then GENERALLY you are paying for all closing costs and depending on the state you'd be paying for all the property taxes or prorated taxes UNLESS something in the contract stated otherwise (rare).If you're the end buyer and the wholesaler is looking to close GENERALLY they will pay for their closing costs with them as the buyer when they were direct with the seller, and then you'd pay your closing costs when buying it from the wholesaler "same" day.  

I don't fully understand the concept and was looking to get any advice, tips etc.

Asking $620k Debt service $4,352/m (10% Interest, 30-year amortization, 80% LTV) Taxes ($1033/m), insurance ($833/m), maintenance($1000/m), property management ($2400/m)Total - $9,613 (very rough estimate) Cashflow with 70% occupancy - $2,387/m (Cash flow pro-forma with adjustments $7,000/m+)What am I missing? 

Also please feel free to share ang tips and pitfalls to look out for.

Their 10% cap rate valuation was even less than the town’s market appraisal to determine property taxes.