I had a plumber go over to give me an estimate for converting a half bath to a full bath and he called me back claiming that the plumbing inspector wasn't going to allow him to tie into the type of pipes I have and I was going to have to re-pipe the whole house.  

It is becoming a lot for the 80-year-old owners who are expecting greater costs in time and dollar (self managed).Is there any creative deal structure that can be used so that I can buy and occupy the home including the assumed improvements, repairs and maintenance, while allowing the seller to preserve the step-up tax shield for their descendants?  

I'm extremely familiar with this area.Property: 3 unit, all 2 bed/1bath (1 of the 3 units is not allowed as rental due to zoning.

Not sure if that is allowed or what the procedure looks like. 

After about 40 years of RE investing we (wife and I) have become good at it.Interesting Forum Thank you for the info.I’d like to ask a few questions maybe and give some input…some states allow you access (Maine) to the MLS, Texas does not.

Your lender may or may not allow you to sell the property (quitclaim) to your single owner LLC but you have to reveal who the owner is, that conflicts with the secret status plan.

Correct, conventional financing now allows for 5% on a 2-4 unit property as long as you occupy a unit.

Also note that it is VERY important when investing from afar to have a good team in place to be your boots on the ground. 

The new loan at a 5% interest rate would then pay off the seller's remaining balance, effectively transitioning your financing without additional down payment.It's also worth noting that some lenders might allow a "cash-out" refinance, where you could potentially take out more than the existing loan balance, given enough equity in the property, which could be used for further investments or improvements.

So essentially question number #2 is only valid if question #1 is not allowed.