I just recently read, after my initial post, that meals with clients are 50% deductible if not "lavish" in price. 

Or is there going to be understanding for digging deeper when the initial screening process produces these apparent inconsistencies?

The bill proposal is in its early stages so I won't pretend to have all the answers, and I agree that subsidized housing initiatives need some work. 

I think you'll find it's easier than you're initially thinking.

The downside will be I will not be able to pull initial investment out for five years and my IRA deposit will not lower my AGI (if I am over income limits).Any additional input?

This negative equity position will consume the initial cash flow. 

Im happy to answer any questions you may have from an initial strategic stand point. 

My initial thoughts, which are definitely open to change, are to buy a quad that I can flip into something around 20+ units with some investors and build off that with a goal of at least 60 units trying to cashflow around $6K per month.

However, we do have the flexibility to rent it out.Our goal is to refinance the property, as we initially purchased it with an interest-only mortgage, and get it rent-ready.

One thing we learned was that if you have a "builder hat" on during the initial stages, our site plan may end up differently than if we had our "entitlement & permitting hat" on.