Thing is they are vastly different housing units and investments, each with distinctly different economics.

The distinction is how involved and active you want to be. 

Here is the IRS distinction.

I think that there needs to be a distinction between the word "mentor" and the idea of coaching/parenting/handholding.

Additionally, cash can be an effective strategy to acquire properties in situations with multiple competing buyers, or at property auctions.In each of these situations, cash provides either the only way to acquire an attractive asset, or delivers a distinct advantage over financing. 

That said, for most serial investors (those who tend to reinvest their capital ongoing), I agree the distinction isn't very significant.

Tom are you sure that wasn't Harry Reid complimenting Obama on being a light skinned boy instead of a dark skinned boy who didn't have a distinct boy dialect unless he wanted to?

In our state, there is also a distinction between pre-paid rent, such as last month, and rent, which is first month.  

Having said that, as tax pros we usually deduct 100% of all HOA dues unless there is a strong distinction of the funds.Having said that, improvements should not reflect poorly on your cash flow or your ability to have a reasonable expense to income ratios.I would find a new lender.

But it is certainly starting to have its own unique vibe - distinct and different from Boise.Feel free to reach out if I can help with anything.