@Adam Kozuch We have been mainly just looking online at the moment..

We tend to stay out of the city, but mainly because I don't think my management style would be effective there.

I would address all the main issues that need to be done but maybe not do full renovations on the apartments and just do minor updates. 

Your questions have their basis in C-Corp taxation, which functions the exact opposite of an S-Corp in almost every significant way.The main difference is that a C-Corp pays taxes on its profits, whether they are distributed or not.  

Mainly I'd like to know more about strategies for investing in small multi-unit properties, since there seem to be an abundance of them in my area. 

It really is a great way to get started and is something I wish I started doing in the beginning.One thing that hasn't been mentioned yet is that when you are looking at the difference between Philadelphia and Main Line (suburbs) is that there is a large different in closing costs.

I'm always a little skeptical occupied auction properties mainly because if the Bank or Servicer could not enforce an eviction or settle on mutual arrangement such as 'Cash for Keys' to vacate the property, then I treat this as a 'RED FLAG' and you should be prepared for any surprises.   

I work mainly with Multi Family investors and I am currently looking for more properties to sell.

The main Team members are Attornies, Real Estate Agents, CPA's (or accountants), Inspectors, GeneralContractors, And Handymen.Always do the analysis numbers so you can tell if you have a good deal, and try to look at the subject property before you make an offer or at least have a clause in the sales contract that will allow you some inspection time (usually 15 days) and let's you possibly walk away from the deal without a penalty that exceeds your earnest money amount.  

Most people who own there bought years and years ago, and the people buying now, research suggests are using OPM to borrow for down payments mainly parents, or selling and moving up.Most people are NOT investors, when they get a raise they say: We have an extra 1000/m coming in, that means we can afford a bigger house new car etc.I think personal finance is important, but if everyone knew how to maximize there $, I can imagine there would be a lot less left on the table for us.