In our experience, things move in ebbs and flows and the speed of rental depends on your asking rents relative to competition.For example, there was a period of several months at one of our properties when a 3 or 4 BR unit came on the market it rented almost instantly. 

My dad and I (both with access to VA loans) are about to get into the multifam game and how we proceed is really going to depend on the true occupancy rules for the VA and our lender.

Adding this circuit in would likely be quite expensive depending on access between the laundry area and the panel.

You will have enough for a small downpayment on each option, depending on the area chosen in each case, and you won't have much of a cushion after closing costs. 

Do you need an S-Corp depends on your overall tax situation and profit you are expecting form this flip.This post does not create a CPA-Client relationship.

I disagree a little about what you said about companies are entitled to fair market rents, I believe that depends on where they are located.

It seems like each option could work depending on your long-term goals for those assets.

There may be requirements to cover the trash service depending on the town.My first commercial loan was 30% down, 20 year term (adjusting after the first 5 years). 

Depending on how that goes, I’ll aim to repeat it 1 or 2 more times.

The market is always evolving and there may be good deals to be had near term or you may need to wait a while, depending on many factors like interest rates etc.