For tax purposes, you really just need to have everything aligned to the schedule E categories. 

Everyone THINKS they’d be happy being a “full time” investor, but I’ve seen many go into depression when they’re alone working out of a home office and they don’t have the comraderie, social interaction, and discipline of a daily job routine. 

Fun reno project scheduled!

And now attorney won't schedule a set time because not sure what else they are going to ask for, so still in la-la land and not sure if closing will happen by Friday.

They're long distance typically so viewing the space in person isn't usually a priority, and this saves you time from having to drive over and schedule facetime tours :)

Legal Protection – It's important to have a solid contract in place, typically a promissory note and a security agreement that outlines the loan terms, interest rates, repayment schedules, and collateral (often the property being financed).

I understand there are some other factors I glossed over like gaining the approval of the first seller to switch collateral and the lien in second position, gaining approval of the second seller to put a second position lien below the big loan, and scheduling the sale of the first property to coincide with the purchase of the second property.

They OWN their schedule.

.: During our pre-scheduled quarterly inspections, most of our tenants just go about their usual activities—cooking, watching TV, working, etc.

For example, my bank will sign off on pretty much anything I want to buy with 10 percent down, with a fixed rate at prime, for 5 to 7 years, with a 30 year amortization schedule.