This is pretty disappointing from the point of view of a newbie Bay Area investor, as 3-4 units fail the FHA self-sufficiency test.

Ultimately, you may want to put up some cash/credit yourself because if you are only 'finding the deal,' that may not be a sufficient service to justify sharing in profits.

A simple, generic "pest control" clause would sufficiently cover all of these.

Then I had someone tell me that wholesaling may be the most conservative option for me being that I have a wife and 4 kids and can't really afford a lot of risk without sufficient cash saved up.

I just wanted clarification as to whether or not I actually have the right to enter unit (with sufficient notice) to do maintenance such as repainting. 

Here is something I found on a home guide website...Landlord CoverageMortgage lenders want evidence that the borrower has sufficient coverage (at least equal to the mortgage loan amount) that protects the property itself against fire, wind, water damage or other named hazards that might decrease the value of the real estate.

It was sad honestly, as one of my buyers should have closed literally the best deal on the MLS in Berwyn but he overdid his reno budget and then the thing failed the self sufficiency guidelines. 

So there is an underlying relationship between your refi and the cash you'll have to reinvest to purchase at least as much as you sell.When folks are using the Brrr approach they'll try to leave enough equity in the property to be used as a sufficient down payment on their next 1031 property. 

Each person has different learning abilities and drive. 1) If your current job pays well you may be able to learn on your own or pay someone (like a coach) to educate you while on the job. 2) On the other token if you need a push, being a property manager or a commercial broker or a lender, may push you further along in learning indirectly if your drive is not that strong. 

Unfortunately, we've been self-employed in a non-real estate industry for a LONG time now and we couldn't document our income in a way that was sufficient for our lender - so we did a cash deal instead.I thought the equity in that property and in the home we own outright (about $256,000 in total equity) would be enough to reset the conversation for our next deal, but our lender says existing equity will always be overshadowed in our situation by documented income (or lack thereof.)