I am a construction manager in my 9-5 and have extensive background in top to bottom labor and management from my younger years. 

I've been in the industry for four years.

I have a good credit score (791 based solely on credit cards) make almost $200,000 per year, and have very healthy investment and retirement accounts in America.

Will take a few years to see cashflow.

https://www.biggerpockets.com/forums/521-real-estate-events-...For about 2 years straight I went to about every real estate meetup in Chicago and built a VERY STRONG NETWORK that way! 

I finally set down and counted doors for the first time in years a few days ago, and I have over 40. 

These penalties include:Five years in prisonUp to $500,000 in finesEquity Skimming may also result in Conspiracy charges, specifically conspiracy to commit bank fraud and false statements to influence a financial institution.

You would need an extremely high grossing property under market value on a something like a 5 year lease to profit, and you probably will not profit after startup costs until Year 2 or 3.Do not even think of trying it with 1/2 bedroom apartments or condos nor 2/3 bedroom homes. 

What our clients generally do is take the average gas billing for the year while occupied. give themselves a little wiggle room,  and build it into the rent as a flat rate, similar to water or electric with a single entrance. 

@Clark Harbaugh, Given the favorable tax rulings over the last few years (in particular revolving around trusts and their equaling a beneficial interest in the underlining propery) the IRS has actually been much more lenient (or at least silent) on these issues.