In this situation, you're still in control of the title and collecting rent. 

I am 60 years old now and the bulk of my experience was in the construction business doing all kinds of positions from actually doing building, accounting, estimating, and funding control, etc..

You have only so much control over the purchase price - you need a seller willing to agree to your math.

Piggybacking on question 2, how do most people calculate appropriate rent raises on a non-rent controlled property?

On the left end of the lever is the cash you put into the deal, on the right end is the property you control. 

Along these same lines, does anyone know if passing on the utility cost to the tenants would count as a 'rent increase' under the new rent control law?

I would still get the previous owner to deliver one unit vacant if you can and check if you're in a rent control area.Also FHA loans have pretty strict rules regarding total rent needed to qualify and price limits.

If you partner into large large projects with other investors, do you have the controlling interest?  

@David HinojosaIf you're partnering up with 3 friends I'd HIGHLY advise making sure that you control the major decisions.

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be invested in your ow business.