Any insight with these first property questions would be very much appreciated.

They will cashflow about $1000/mo and I should gain about $70k+ in instant equity.I'm new to this stuff so I need your insight.

I'm definitely not for sure ANYONE feel free to reply with any insight you might have on this type of market, am I on the right track???

I wanted to update everyone and thank them for their insight. 

If it truly is an investment property could you do a 1031 exchange to defer capital gains and have even more cash in hand for a down payment on a multi-family?

You have two options to avoid paying back the depreciation expense: 1) sell the building through a 1031 (this allows you to buy larger and larger properties each time without getting hit with capital gains tax or deprecation expense capture back, 2) refinance the property  and cash out your original equity (along with some or all of your appreciated equity you earned from the time of purchase) and use that cash to purchase another property.I intend to use both options in order to achieve my goal of 1,000 units. 

Not aware of anything similar law/regulation concerning internet service.Any insights would be appreciated.

This way, even if they decide that they don’t want to accept our offer and work with us, at the very least gain valuable knowledge and information on the condition of the property and the necessary repair costs.

I have nearly $400,000 in investment accounts...would I be able to liquidate $50,000 and 1031 that money into the down payment and avoid the capital gains taxes?

Any insight is much appreciated.