It’s a little complicated in terms of the IRS rules, but manageable. 

I don't think this needs to be complicated. 

There are other nuances, but it gets complicated. 

@Blaine Alger   This might be easy, it might be complicated. 

The more properties involved the more complicated the transaction becomes. 

The total time on the project is really going to vary by how complicated the title/encumberance history is for the property.

Going from 4 units to 5 units is much more complicated just because of the financing component.

Working with a local bank you can probably do it all under one note, it would complicate things if you want to sell less pieces later on but it is likely possible.

It’s great because when someone says RE is complicated I send them a link to my scientific papers.

My initial thoughts were that if I were to acquire the property then I wouldn’t have to disconnect the electrical (although that in itself is not complicated) it would be one less responsibility I’d have to be concerned about.