I'd say your "power team" and attorney needs to brush up on installment sales and "intent" as there is no more single factor, like equity, used by the IRS.

The short answer Brian is "yes, but, results may vary", and one BIG variable your not accounting for is that NO real estate has absolute static numbers; there is vacancy to consider, general maintenance but most importantly to never ever forget when doing longer term projections is Deferred Maintenance, those things that DO wear out over time such as roofs, exterior paint/ siding, maybe asphalt, these are some big expenses that if not accounted for can really hit hard. 

. $500 Purchased at discount builder supply stores (Habitat for Humanity REstore, Seconds and Surplus, ShoptheBoss.com) All this stuff was brand new in the box. 4 brushed-nickel ceiling fans/lights -- $160 vs. $400ish2 brushed-nickel vanity lights -- $40 vs. $100ish4 24"x96" granite slabs -- $400 vs. $1,500ishUndermount sink $150 vs. $250ish660 sq. feet of handscraped engineered floating wood floor -- $660 vs. $2,000+40 sq. feet of glass mosaic backsplash -- $40 vs. $320ishCeramic tile for master bath -- free (I used some the people who sold us our house had left in the garage) vs. $200ish1,000 sq ft of FHA-compliant carpet installed with pad -- $1,100 vs. $2,000ish

too funny you mention the I don't want to be a salesmen.I was brought up in a sales family.. top salesmen drove the nice cars.. the worker bee's well you know.I always wanted sales.. my first job was selling FULLER brush door to door  I made more in 3 hours than my piers made in a whole week of bagging groceries... 

I would like to get quotes from more than 1 company but majority of plumbers I contact don't tunnel and want $600-$900 to do a hydro static sewer line test.

Communications might be and don'tforget the time differences, I don't think I want to stay up til one in the morning for a discussion with my German investor.SEC regulations still apply and you may want to brush up on the issues of money laundering and keep a good papaer trail on the source of funds.

Went to the local REI meeting last night and they were discussing how the banks and real estate brokers and agents are brushing it under the table.

There are of course good neighborhoods and bad neighborhoods but you'd miss out on a great deal of deals if you brushed so broadly.

This has triggered me to brush up on my review of the code books!

When my daughter was 2, she was at the job site helping me "paint" with a brush and a cup of water while I rehabbed.