I have an appointment scheduled with tax professional but thought I would venture into obtaining some info from some of BP's wisest...1.

However I went to my first local REI meeting the Professional Investors Guild (PIG).

You made two great points. 1) Buyers and Sellers of MF properties are all professional investors.

@Carl LeggI agree with @Brian Eastman unless you have experience as you say and have professional advisors if you are not a professional don't save money here. 

If you really want to move forward hire an architect that has dealt extensively with the City.

I have been trying to network with local RE professionals but so far nothing is set in stone.

Miller, Haviland Ketter CPA's are the best... and can handle both MO and KS for taxes... professional and won't break the bank . 

I am not a lawyer/tax professional.Here is what the IRS says:https://www.irs.gov/publications/p463/ch01.htmlOn a side note, based on what I have learned from some professionals, your trip must be predominantly for business purposes: you must spend at least half of the total days on your business.

Ask your tax professional if you should file as a qualified joint venture or not.

The key here is hiring a property manager that specializes in Section 8.