He talks about how you can purchase a rental property, manage it as a short term rental during the year you acquire it, do a cost segregation study, use those "losses" to significantly reduce your taxable income that year, and then turn the property into a long term rental in the following year. 

Increasing your down payment can indeed make the asset cash flow positive, even if it reduces your cash-on-cash returns.

By living in one unit and renting out the others, you reduce your living expenses and generate income.

If you ever found your self in trouble you sell a property and reduce your debt load and obligations. 

I should look at house hacking as a way to reduce my living expensesAll of that makes sense to me but in my personal situation, I live with my parents for free.

By accelerating your depreciation schedules, you reduce your taxable income which in turn increases your operating cash flow.

I thought about doing a partnership return with my wife since partnership returns are audited less, to reduce the size of my 1040, but my CPA said it was not worth worrying about. 

But at this point I am going to reduce it to 2 questions so I don't give you a headache. 1) if a property is being sold as is, is that an automatic disqualification?

It could help you get a lower rate or reduce closing costs.Good luck with your house hack!

Now I want to update or amend the lease to a DOUBLE NET LEASE to reduce my expenses.