The seller would qualify for installment method of reporting capital gains.

The Capital Replacement Study was suggested, but discouraged by my Tax person, because it wouldn't bring me anything.Do you also have a survey scheduled?

I have capital available and would really like to just cut down on the learning curve and just buy into a turnkey multi-family or multiple single family homes.

This route requires the seller to procure capital sources other than the equity the seller has in their property.

Just create an LLC and have initial capital contribution into the LLC be enough to fund acquisition (down payment + closing costs + legal funds to start LLC) and have operating capital from day 1.

my guess would be water,sewer,taxes,insurance, maintenance, capital expenditures, common areas (everything but the principal +interest ) 

Maybe I need to be more specific in my question, lets say I'm going for the BRRRR strategy how different it will be from getting an Home-equity Loan instead of Refinance, talking about time, hassle and amount of capital that I can get back.Thanks @Ron Harris I did a little of research and though about getting a HELOC too maybe I should add that option into the comparison too.

few things come to mind.most that don't take action  frankly don't  have the capital to take action.. especially in the note space.. were its cash and carry..

You should see the rent going in, the expenses going out, the debt service being made, capital improvements being made and the waterfall to the investor; and follow those numbers from start to finish. 

Situation:As a first time home buyer, and first time flipper, Fiancee and I expect a 2 year property to avoid Capital Tax Gain, and allow for time to DIY as much as we can comfortably do.