You will need 20-25% down and a commercial loan for the rest.Most lenders will want to lend to an LLC with you personally guaranteeing the loan.Typically, each MFR would be purchased under its own LLC, for liability purposes.Each LLC would then also need its own bank accounts for collecting rents and paying expenses.

I don't want to just pay her 5-8% of rental income as I feel like there are some months where she really won't need to work much and I don't want to overpay.  

Personally, what I've been doing is simply adding up these individual expenses, and then come tax time or whatever, simply divide it among the number of properties that I have, and then add that number to the specific unit in question's maintenance/repair expenses.

I have personally never heard of the county having any say .. other than I do get calls from (state of Colorado) Tax collector after I purchase something and they want to know why we paid less than market value.. but they contact after the fact..

As someone with basic framing/DIY knowledge, this is something I would feel comfortable tackling over a long weekend and would only cost me around $500 in materials. 

DM me for the person I worked with. 

Are there any developments that you feel were left off this list, or any you are looking forward to finally being complete.

I can buy it.My personal Facebook page also says how we are always looking to help others with real estate issues.

I want to create a new checking account to keep all my house income expenses separate from personal expenses.

Anything you feel it is missing?