Yes, I agree asking why they are selling multiple times is a necessity.

It would be my primary residence for at least a year, so I'd want it to be nicer than a standard rental rehab i.e. hardwood floors throughout (maybe bamboo to cut some of the cost), exposed brick walls, 1.5 baths, subway tile in full bath, central air/heat with exposed ductwork, rooftop deck if city approves & budget allows (not a necessity though).

Tenant turn over is a necessity in rent controlled markets.

LLC for residential with a mortgage - slow you downLLC for commercial asset - necessity 

Some areas I invest in consider water a mandatory necessity and mandate landlords pay on multifamily buildings.You can also look into RUBS (ratio utility billing) if its legal in your area as well

Big Picture: By necessity since the employer is the person being asked, all mortgages for self employed persons are still "stated income" loans, that hasn't changed at a basic level since well prior to 2007, and there's no other way to do it.

Doing so is much easier if you have a fence and electronic gate but that might not be a necessity if you have a very attentive manager. 

That would leave her $750 for utilities, groceries, medications, and other necessities.

Also you would have to prove your next purchase is a necessity (I believe this is the term my lender uses, not sure if it is a common term) for living to qualify for FHA while owning another property.  

This not only misleads the buyer into thinking that the net income is significantly larger than it really is, but also leaves the buyer with the necessity of making repairs for not only the time he owns the property, but 2 years previous.