Sure you can get away with it , until a home inspector looks at the dates on electric wire , or pvc pipe . 

A nice multi family property that you can do some light fixtures on sounds like a perfect strategy for you so you and your wife can have your own unit.

Focus on running a clean operation rather than perfect technical compliance.Pro Tip: Your biggest risk isn't the IRS - it's partners who might complain to the IRS.

The idea of “giving back” by providing the kind of experience you’ve appreciated as a traveler is such a fantastic approach and will definitely resonate with renters, especially healthcare professionals.Single-family homes and cabins sound like a perfect fit for what you’re envisioning.

When you have things that you do not know how bad they are until you open up pandora's box, it is hard to perfectly predict the cost.I'd be happy to have a more in-depth conversation if interested. 

I will say you do enough underwriting and something will eventually get missed (my last rehab was my first to go way over budget due to various reasons so I am not perfect).  

Chris summarized it perfectly.

We found that by more or less falling on our sword and saying, "Hey, we want you guys happy... tell us what you need from us" they were more than helpful and once we had contractors they liked on board the process went perfectly smoothly.I don't live near you so can't help with your locale... but hopefully some of it helps!

@Michael Breisch perfect

Each has its pros and cons, but starting with House Hacking can be a great way to ease into real estate while keeping your living expenses low—perfect for someone just starting their career.Here are a few suggestions to get started:Education: Books like Set for Life by Scott Trench (sounds like you’re familiar with him!)