However, many appraisers (and realtors, and the general population) believe that it does need a closet in order to be considered an actual bedroom - I have no clue why - it is not part of the building code!  

In this case, would he actually need to pay any money for the down payment, or does it basically cancel out in the debit/credit line items?

Im currently in the process of getting it rolled into an actual mortgage since these are rentals.

There’s also a good mix of duplexes, triplexes, and quads, so you’ve got options for a solid house hack.House hacking is actually how I got into real estate—I’ve done two house hacks with duplexes here in Chattanooga, and it’s been a game changer.

Assume that you're sitting on:$200,000 in suspended passive losses$150,000 in business losses$100,000 in expiring NOLsThe Magic Transformation:That $500,000 of "painful" ordinary income becomes your strategic advantage:Absorbs all $450,000 of those otherwise-stranded lossesLeaves you with just $50,000 net ordinary incomeMeanwhile, your §1250 gain still gets preferential rates:$581,820 at 25% max (unrecaptured §1250)$700,000 at 20% max (capital gain)The Plot Twist:What looked like a tax nightmare actually solved multiple problems.

But I think any experienced investor would agree that if you aren't doing value-add when it comes to real estate investing, you aren't actually investing.

If they actually use a reputable title company I'd do it but if not, I won't trust them.

It's a hobby for maybe 80% of the people who say they are wholesalers, and maybe 10% of the wholesalers in SA or any big city actually have a business. 

Here’s why:Putting aside the actual physical danger of living in a fire prone area.

You’d be shocked by how little actual screening many PMC’s do!