Kinda like running from the snatch man and he catches up with you in some remote town 600 miles away from home on a Sunday evening .

This is definitely something I will be keeping my eye on and maybe an opportunity will present itself.Thanks!

This was eye opening for me on the paper work side of things, at the time it was quite a bit but a wonderful lesson to learn especially being my first deal.

The other catch is you have to live in the property, and you can't live in a construction site.  

If it is a turn key property managed by a property manager or you have limited interaction with your guests it would most likely be considered passive income and filed on a Schedule E Yes!

Works for the first few deals but after a while the underwriter will catch on.

Fair enough, I can understand that in the eyes of the lender i’m just a dude about to quit his job looking for a loan.

You probably won't get your money back but get them interested in catching Kevin Bad Guy.

As a real estate investor and advisor with an eye for opportunity, few transactions in history rival the scale and foresight of the Louisiana Purchase.

If I'm going to invest the amount of money required I want to personally be able to keep an eye on the property, and interact directly with those assisting me.