The issues typically arise out of "add ons" after a totally fine K&T wiring was initially installed way back when: people add, typically in a haphazard way, modern wiring to the old K&T wiring, possibly even messing up the breaker system by adding higher amps circuit breakers etc.

and b) if you make sure your plans/processes/communications are reviewed by an attorney so you don't take a short cut that gets you in trouble. 

Residential Lease with damage checklist - have your lawyers draft that up... come in with ideas from other reviewed lease clauses from other leases ---- but have him/her draft it up for you - no shortcuts on this or you'll regret it.        

@Chris Mason thank you, that definitely makes sense rather than trying to search for any shortcuts around paying taxes.At this point, I am not worried about a higher interest rate, as a smaller profit is better than no profit at all.

In any event, there is no short cut.

You don't need to lie, deceive or sign bogus sale contracts in your business.Those that get in a hurry and follow the shortcuts generally fail  quickly.You ain't gonna learn what you don't want to know (The Grateful Dead)Failure is an option, it depends on how and where you start out. :)       

Most take a haphazard approach to retirement putting some money aside in deferred retirement accounts and perhaps dabble in other investments.

There is no short cut.

There is no shortcut.

There are no secrets, no real short cuts to doing anything right.Be very careful in selecting a mentor, especially those that specialize in some niche and promote just a few stratigies, that's no place to start, no place to learn and is usually a good way to end up being caught up never learning the entire realm of RE, ending up as a birddog for that mentor in that specialty.You might think that if you want to be a landlord you should just tie up with a landlord, you'd be very wrong unless that landlord can operate in all areas.