Pulling from my years of experience as a landlord (and general common sense), I begged & pleaded with our buyer to reconsider this idea.  

@Rochelle S. so the way it works with the IRS is that you are guilty of tax evasion unless you can prove otherwise.

Worker bees love to tell other people how to run their business (I know because I have been guilty of telling my wife how to run her practice.

@Cameron Riley It took 2 plumbers not showing up and not answering their phones after the promised times, keeping hysterical tenants calm, begging and pleading with any available plumber to show up, and paying 'emergency rates' to finally fix the problem. 

They both still deny having lied to customers or misleading investors even after they've been proven guilty.

If it becomes an issue, plead ignorance, which is not really too far off the mark because it is ignorance of the laws on your part (and your GC!).

Local banks must give loans to owner-occupied properties of qualified buyers or they are guilty of redlining.

If your interested shoot me a PM and I can link you guys up, hes been pretty helpful, and I felt guilty about spending that much :X 

No reason for any investor to feel guilty for wanting to operate the most successful business possible.   

If you were to advise anyone in the state of Virginia with the information you have provided in this thread, and they were to rely on it, you could be guilty of a class 1 misdemeanor.