The down payment plus closing costs, expenses to make the property rent ready, travel back and forth (do not purchase a property in a market that you have not visited and/or do not plan to visit pre and post purchase), and the required cash reserves puts your realistic purchase price around $150k. 

AirBNB asked to provide certain evidence, such as doctor notes , to waiver penalty  of $180 per reservation. 

If the town confirms there is leakage, you have to run the tests and do remediation.

It's up to your accountant to confirm with you that enough of the burdens and benefits of ownership have passed.If they agree with you then you would do a 1031 right at the signing of the option(actually it can't be an option. 

$20,000 is really your reserves that you want for your first deal to be safe.

We get a few reservations per month through there.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

It's just that the exception is somewhat hidden in the back LOL or using credit score as well.... someone with 780 credit score with only salary of 75k can have 500k buying power while 690 credit score on salary of 60k base salary and 140k commision ; and reserves of 500k in the bank could only purchase 400k. i believe those dti rules needs to modified given the increase of home price lately. 

I would give him 24 hour notices for doing showings, halfway through the month he confirmed that he would be out by the last day of the month.I signed on his replacement, got the security deposit and was good to go.

I have my BP2023 tickets and hotel reservation, but I would prefer not to support a state with the anti-LGBTQ policies of Florida.