Forget about the LLC and asset protection classes, be good, have insurance (an umbrella when you get rich) and abide health and safety codes you will be fine.

And call a few Lenders who strictly go by FHA guidelines and don't implement their own overlays.Hope this helps and good luck!

They will examine the zoning code and advise as to how big your structure could be to comply with all relevant ordinances.

@Remington Lyman so far I’ve narrowed it down to A and B zip codes (defined in a document from Zeke at Reafco), and in the near future I’d like to narrow that down from around 20 zips to 5.

Yes, both condos are also in the same zip code! 

The area certainly does seem to have strict laws dealing with multifamily properties.

I'm Brian Silvia -- by day I write & ship code, but by night I'm either doing Crossfit with my wife, or working with her to get spun up on real estate investing.

If you are an NAR member, it is also a requirement per the Code of Ethics. 

Because of Code differences, you will most likely also be looking at tearing out the basement ceiling to install a fire retardent barrier between the units, as well as other code enforcements.

Lets say I bought in a strictly cash flow market and brought in and extra 500$ per month on the property meanwhile I am getting very little appreciation on this property.