Just something to keep in mind regarding timing your visits....might want to get there before Fall, lest you get caught in a long escrow and then might have to wait until Spring to find tenants at the optimal rent.While I am in agreement with you that the winter we see a much lower tenant demand I don't see something as small as a slightly longer vacancy period as relevant to making an investment this large.In the grand scheme of an investor's time buying & holding an investment property what time of the month they purchased it 1 time is less than a drop in the bucket.

There are 2 main tax reasons why you will want to use an S-corporation.1) Flipping houses either individually or through an LLC will generate self-employment income, which is subject to a 15.3% tax. 

@Michael Pursell following up on @Charlie MacPherson good comment you also may want to pay attention to the exact wording of this stuff and how its individually interpreted by the various building departments: Accessory Dwelling Unit, In-Law and other terms may mean something slightly different town by town and be treated differently, likewise if you owner occupy or not. 

If demand stays high.....not so much.Broken record here, but look closely at where we are in the r.e. cycle and try to size up the potential for supply saturation.

As Chris mentioned, know the individual state laws.

I would not contact banks individually and instead let a broker tell you what you can qualify for and the best interest rates.

In FL, my wife and I turned our individual houses into rentals when we bought a house together that also had a carriage house so we had 3 rentals.

Wife is suddenly back demanding full access to the apartment and is damaging the property (broke door and locks in an argument) to prove her point.

Rochester market is very strong and the rental demand is high.

Legal can come later, especially if you are purchasing multifamily as an individual.