It's for privacy, asset protection and in some instances, good for your safety and your family's safety as well.Telling the tenants you work for the "owner" IS NOT necessarily lying if the "owner" of the property is an LLC or Corporation that you own.

Take a smaller LTV 65-70% and maintain a nice amount of equity for safety. 

Homeowners pulling permits should cost MORE following that logic.If the whole goal of permits is safety - they should actually be checking to make sure it was done correctly.

Safety items will be higher on the list.Let them know you will need their help in clearing the yard and also things inside that would impede your ability to do necessary repairs.Provide a dumpster or a trailer to haul away trash and debris.

Can actually mention in listings that home is properly permitted and undergoes regular inspections to insure guest safety.

The safety net is that you can likely qualify for student loans, even as a short term play, if you need more cash flow.

I wasn't happy that his workers showed up without safety glasses and needed some adult supervision.

When you find a property that fits your buying criteria, then you can make decisions about repairs, safety issues and cosmetic changes that will improve the appearance.  

To make more sense, here is a scenario I am looking at right now:$55,000 Purchase Price$13,750 Down Payment (Investment)$266 PITI based on 4.35% @ 30 years and estimate on Tax and Ins$413 ROI based on 3% of my initial investment$102 Safety Funds (15% of PITI+ROI)$781 monthly rent - Break Even (ROI) will be 34 months (rounded up)Now, these are ball park figures, but overall pretty close to actual.

Fasten your safety belts.