Whether or not you self manage or use a PM you should always include a PM fee (I.e. 10%) in your analysis.You need to remember that you are buying a Multi-Family Rental property for one main purpose.  

I intend on using it 100% for business purposes.

Buying additional properties are not "expenses" for tax purposes. 

Hi @Ashley Pimsner.Since I don't know to what extent we can't promote our business in this forum, I'm keeping the information confidential from the public, but I can definitely give you the address of the subject property so you can check it out.Looks like I can't post neither my phone number or email.Here's my website: arghomebuyers.com

I am having trouble locating how or where I can find proper documentation to use in a Master Lease Option that I am going to purpose.

I know it sounds silly but I just want to make sure im free and clear and that my loan for the purposes of rehab on the home isnt holding me liable for anything?

BTW: There's not one professional kitchen using Electricity - - they are all gas.Here in Calif, there was a craz (promoted by SCE) for the 'all electric home' and these ALL bring lower prices - - electricity costs more than gas AND the conversion from electric to BTU is poor efficiency. 

There were a couple of characters promoting this play a few years ago and pissed off the judges to the point that we can't utilize the laws now when we really need them.

@Tara Myrick I don't think you will get an approval. 2 hrs away is too far to be considered commuting distance for everyday purposes.

An IRA is a retirement account, if you have enough money in a retirement account where you can invest in RE and if you plan to use ALL earnings for retirement purposes, it is perfectly fine.