Closing means everything is signed but it doesn't mean that it is funded and recorded.

@Michael Spindler I have an open house class we did and I recorded it.

Hi Everyone,I have placed an offer for a 4-plex and through the appraisal report, I got informed that each unit is 250 sqft less than the county records.

The problem I face is that after doing some research on the county records, I came to find out the buildings are owned by a corporation. 

Best,Alice Make sure your partner has experience and a successful track record flipping or doing renovation work before you partner.  50/50 could be a fair split if everything is as you describe.

. - tanent pays all utilities - low maintenance property cons:- number of bedrooms dosen't match with city records,  city shows one less bedroom and 1 more bathroom, might be issue in conventional mortgage ?

You can't sit around and worry about hypotheticals; instead, rent to tenants with good income, good credit and a clean criminal record. 

For the record, here's my approach when contacting a realtor to ensure that I'm mindful of their time:1.

Some can be found by doing a records search and then piecing together the data for limited types of evictions.

And of course you want to be sure your 2nd position is recorded when the loan is made.