I just saw that too, pretty funny stuff.I'm sure the game isnt all that in depth like another poster here said, would be interesting to do one that had more financing/analysis involved

Even if you use the 1% rule as a guideline for screening it's important to do an in-depth analysis before making any major decisions. 

As I do not know in depth the what the IRS laws are.

I have made sure i included those on report (in depth rehab estimation) and tried a few times.

This is a lot more in depth than some people make it out to be!

Most larger markets have a bunch of submarkets anyways so once you do choose a market you can do more in-depth, boots-on-the-ground analysis to find out which submarket works best for your strategy.Hope this helps and please feel free to reach out to me anytime if you have questions or just want to chat!

Assuming no one is manipulating the VA profit margin to stick it to vets while publicly saying they "support the veterans," which banks like to do all the time (I wish they were required to publicly disclose when they set their VA loan profit margins higher than conventional, in many cases it's a whopping 2x).

Aspects like location, building structure, building floors, floor lay-out, building length and depth, stairs, elevators, and facade are needed be looked into when considering the conversion.

I have read in-depth about using holding companies, multiple LLCs, trusts, crazy expensive liability insurance policies, etc. but wanted to explore this route because it seems less-complex and more cost efficient. 

It does not talk in depth about what amount of reserves you should start with but it would depend on your tolerance for risk.