Originally posted by @Lynnette E.

In an ideal world, the property would have been used as triplex for decades and would fall under a "non-conforming use," which is the technical way of saying it's grandfathered in.

Ideally, what is the ARV (or target price point) of your property?

This would be very similar to what r/e agents do prior to a house being complete, or maybe it is complete and they add staging.Ideas?

You will be deducting costs on schedule E so that is where you would report the HOA fees. 

haha @Ronald Allen Barney I already e-mailed him!

Getting two-three rents in one building is ideal.  

For bonus points, how would one break this out on their schedule E, list the one property and combine the financials as if it were a multi-family property, or should I be listing each unit individually on schedule E with its own financials?

I would have to agree with @David E Fitzgerald IV, Casa Grande is a great up-and-coming market.

Hey @Randall E Collins, they will do a background check on you as part of the testing process.