Or maybe look for the true identity of rich dad ;) 

I have seen a case where an investor purchased several substantially identical SFR properties at one time and had a cost segregation study performed on one and then simply leveraged that single study across all of them - maybe that makes sense.

HI Michael,the answer to all 3 is yes. since the properties are so close, one or the other would have to be a an Investment property. since this is your plan of action underwriting should have no issues as there is no means of mortgage fraud with what you plan to do. one thing you will want to keep in mind when qualifying for the new home is debt to income ratios, and having a renter with a signed lease agreement for your current primary lined up will off set the debt ratio helping you qualify with no troubles.let me know if you have anymore questions or want to speak privately! 

Fairly certain it would be mortgage fraud, my guess is the lenders would have some say on how the money could be used.

A meeting was set up for me to sign docs, and briefly read docs as I was signing, the wire instructions were included.Just prior to wiring funds , there was a warning about wire fraud , and I noticed that no letter head was included with the wiring instructions.

She claims that it was due to identity theft issues.

One of the properties has been on the market for 5 months and the other 2 months, both are identical specs.  

The chances are very low without the bond, also most contractor's bonds cover negligence and fraud, the "performance" part usually falls under negligence aka leaving a project unfinished, charging too much, etc.

Never give out financial information or identity metrics at one of these events. 

@John Lewis Your numbers are almost identical to a purchase + rehab I once did.