I'll definitely check with the city on the items you mentioned and report back.Some additional questions I have after reading your response and thinking about this a bit.1. 

Plenty of folks here will weigh in on certain markets, but I bet if you're willing to do something like that are share some results you will get more responses but also have a good foundation to start filtering suggestions.

If it all things were equal, I'd purchase a purpose-built multi-family vs. a converted home. 

I post it on craigslist and will do so on Offerup and letitgo to see what type of response I get. 

Otherwise you will miss out on invaluable lessons learned. re imo, once you assign the responsibility to someone (property manager) you surrender the most valuable part on the road to FF.

Thank you for the responses.

@Jim GoebelThank you very much for sharing your perspective, your thoughts are very useful for me, I have a little break from managing everyday issues, so I was thinking to make some decisions on who is responsible for  working fire detectors, what company to hire to check detectors and other safety issues, I am going to sign an addendum/reminder that people would not use basements as a bedroom if there are no 2 exits. 

According to my understanding the upset sale just transfers the property into the winning bidders name and any liens that are attached are now his responsibility.  

Owner occupying that unit.I would like it pretty close for commuting purposes.

Thank you for the response!