@Marcel SundayIt’s not much different then buying a single family, just different debt structures, higher operating expenses, higher property taxes, less liquid, more zoning/permitting, etc.Most people would say start on a 1-4 unit first before jumping to that size.

Now I am not really sure how a lender would structure this, but that can be discussed with said lender.My question pertains to legal entity.

Also ask what kind of work their accountant is doing for them and their pay structure. 

You can make the inspection for structure and mechanicals only, offer to buy as-is and not ask the seller to make repairs, etc. 

.- basements are hand dug and therefore usually not deep - usually no structural issues (much more in 1960s buildings) but sometimes poor surface water management leading to damp spots.

Now I am not really sure how a lender would structure this, but that can be discussed with said lender.My question pertains to legal entity.

The complaints if any are about the physical structure or the stairs (It's a bit of a weird layout).

Totally how I was going to structure it. 

Also, one owner cannot control the HOA, and if the structure has more than four units which is not clear in this post no one owner can owner more than 2.

Not sure how you structured it.Stephanie