I do think I have a conservative estimate of $30,000.00 in repairs.Finally, the electric is not on separate meters so we will be adding on an estimated electric and water/sewage amount to their rent. 

You may want to even push that to 20% since this is a low-value property, there may be additional costs due to the 18 acres, and with separate buildings, you won't see as many efficiencies of scale.Management will likely be 10-12%.If the water/sewer is town, do the tenants pay that individually?

Would these be classified separately as "start-up" expenses? 

Reason I ask is that for minimal build cost you can make the party wall a 2hr wall and then have the ability to sell each unit separately (like a townhouse).

I assume I can either bundle them as one commercial loan or 4 separate conventional residential loans.This is my first investment(s).  

Having your business and personal finances completely separate is crucial to getting your taxes done quickly and accurately.

@Adam Rasmussen hello- my husband is retired and he does not have W2, can he get some tax benefit on our rental property ( married filing separately)?

Let the attorneys work the finer points of the transaction to keep you separate from the seller and any emotional involvement he may have in his home.Good luck

Then you have a separate return on the money invested in the property.

@Nasir El Ameer I do them as sandwich lease option deals, so I have separate agreements for both sides of the transaction.