I would suggest you make sure you have the end refinance lined up before you pull the trigger and purchase the property.

You will need to have a built-in alarm systems and some municipalities require multifamily buildings  to be a system that auto alerts the local FD on trigger. 2 exits on each floor and that must not be "blocked" by inaccessibility to any floors beneath. 

I'm not saying that it's never happened, but I've never even heard an accusation of another agent in the same office submitting a lowball offer for the purpose of triggering a multiple offer situation. 

This will in the BEST case trigger all sorts of "ha ha ha slum-lord" "jokes", aimed to pull you down.

@Damian BaynesThe use of debt financing when investing a solo 401k in real estate will not trigger UDFI.

policy #1 $3496 for 2 single family and a duplex $1000 deductible $1,000,000 liability 50% replacement Policy #2 $5713 for 2 single family and a duplex $1000 deductible $1,000,000 liability 80% replacement and personal       injury and loss of rent.would love to get some opinions. 

If so that sounds even questionable.The objective is claim some justified expenses not trigger further opportunities for more audit.

Congrats on finally pulling the trigger.

You'll want to be careful about triggering due on sale clauses if you transfer the property from one owner to another. 

I looked into real estate investing in 1999 and even went to some meetings but never pulled the trigger.