So you will have to weigh the importance of maintaining legal status and potential savings you may get out of a LLC.

However you need to remember if it takes 2 years to foreclose you will have about $3,000 in legal fees and 2 years worth of new taxes and water bills, and potentially fines, that you will have to catch up also.

Your bringing into your home potential problems and/or opportunities. 

I'm about to start calling contractors to see if I can get them to do a walk through of a potential deal I'm looking at doing. is there anything I should have for the contract?

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

I get EVERYTHING in writing AND verify / do your research on their company, license information.

My advice would be to start small and do your research.

I am, but for some reason I see the potential as this property comes with grants and is a historic building with permits allowing for multi-units.

But make sure to do more research, connect with local agents that know the market, connect with investors who own rental properties in that market, and then decide if that's going to be your main stomping ground. 

They typically have a "designer" or "consultant" for free that can give advice (or research in your case) specific items.