That would mean there is an approved site plan that includes roads, water, sewer, storm water, curb, gutter and any required buffers.

We determined the ARV, estimated our rehab, decided on our required profit, and then negotiated on the purchase price based on that data.

There are lots of hard money options (or maybe not "lots" but not too uncommon) with no appraisal required - that makes the offer equivalent to cash (closing within a couple days and no appraisal contingency - its out there)The lender still has to ok the deal, appraisal or not.

Hi Kristi,VA loans do have flexible debt to income ratio requirements, unlike every other loan.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

It's not fraud or anything because you are, in fact and in reality, converting it into something that is not a bathroom and doesn't require any permits.

Not only is it very difficult but also leads to poor real estate investment decisions/ rejecting opportunities that require patience while attempting to achieve the W2 replacement as quickly as possible.

I understand credit enhancements and additional guarantors are sometimes required but to be unable to cover escrow funds and to give away deal ownership for that service is kind of crazy but back to the main point, the real issue is when the Co-GP is not truthful about their true role or embellishes their portfolio/ unit count. 

The answer is NO, based on the language of Section 152(c)(3)(A):...an individual meets the requirements of this paragraph if...

If you operate under an LLC or other business structure, are there tax implications or requirements I should be aware of when paying myself?