It is very normal for property taxes to increase when a complex is sold; especially one that has been owned by the same owners for 10+ years.

I would also want to vet their team (lawyers, CPA, lenders, PM, etc.) a strong supporting cast can compensate for a lack of direct experience.Do they have skin in the game?

Now may not be the best time to get in, I wouldn't normally say that as an investor needs to be able to invest in all markets but I have feeling that a correction is on the horizon.

It normally leads to them taking on more risk than they should have or a large BRRR project that they didn't understand. 

I would like to refinance in 5yrs to a normal 15yr conventional loan. 

What’s the longest you’ve ever had a vacancy or considered as normal?

Tobias,If you are doing rehab to the building before you move in, rent out, or sell the normal policy for that is a Renovation Builders Risk policy.  

The only scenario where we normally would include utilities is if the properties utilities are not individually metered.

A normal person should just be able to leave the money in their savings and pay you as it becomes due this person doesn’t think they can so I’d pass.  

Would be curios to hear @Brian Adams if your messaging changed from the normal "we buy houses" tagline of wholesaling to something a little more sophisticated and personalized for multifamily?