Same BRRR method we use for a typical LTR, but better equity, ROI and use( gift it, use it and better tax write offs) 

Lots of options work here and I have focused on the BRRRR strategy. 

Live in one unit and rent out the others to cover your mortgage.Seller Financing: Negotiate terms with the property seller where they act as the lender, often requiring a smaller down payment and bypassing traditional underwriting.Partnerships or Joint Ventures: Partner with an investor who provides the capital in exchange for a share of the property’s equity or income.Lease Options: Use a rent-to-own agreement, which allows you to control the property while saving for a formal purchase.BRRRR Method (Buy, Rehab, Rent, Refinance, Repeat): Acquire a distressed property with short-term financing, rehab it to increase value, rent it out, and refinance to recoup your initial investment.Pro TipStay in close communication with your lender as you approach your next purchase.

Sellers or JV partners may value a hands-off partner who can handle rehabs.Start with a Strategy: Whether it's BRRRR (Buy, Rehab, Rent, Refinance, Repeat) or simply flipping properties to build capital, define a clear path for your first few deals that aligns with your long-term development goals. 

I did one BRRRR in Tulsa that I still own, and two flips in the Tulsa area.

Is this a common method or not?

They’re generally easier to manage and can help you gain valuable experience in property management.When you’re ready to scale up and try strategies like the BRRRR method out of state, it’s crucial to have a strong local network.

Here are a couple of methods of pipe replacement that I am aware of you might be interested in looking at.https://www.youtube.com/watch?

Given your situation, one strategy that could work really well for you is the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat). 

@Spenser Harding you are right on the money, and speak from the perspective of someone who has invested using a variety of methods + gotten in the trenches with a BRRR.