Everything is interpretation, and you and your counsel get to decide what your risk tolerance is.What you cannot do is add value to the IRA through the provision of goods or services.  

My main learning goals are 1) knowing where/how to find good deals and 2) being able to reliably crunch the numbers on my own and interpret the results.Beyond that, I’ll be looking to network with agents, contractors, property managers, and anyone else who I might need to team up with.

By itemizing you mean...x amount of dollars for new fixtures...x amount for paint...x amount for flooring...am I interpreting that correctly...Thank you for you knowledge and advise Ashish...truly valuable 🤙 

I used to be a manager with a staff of 300, so I've learned setting up super strict rules leaves less room for interpretation. 

This is interpret into save me money and I am willing to take the risk to not get caught.There is no such thing as aggressive. 

Sincerely,Lance aka Overwhelmed and confusedFirstly, any 3-4 unit property needs to meet self-sufficiency standards for a FHA loan.Secondly, you don't understand enough about the process to interpret how the mortgage process works.

Hey @Simon Daniels, While I agree of the intent I disagree on how the law could be interpreted.

To find comparables in your area, an average person can do the following:Research online: Websites such as Zillow, Redfin, and Realtor.com provide home values and information on recently sold properties in a specific area.Check public records: Property records are available online or at local government offices and can provide information on sales prices, property size, and other details about recently sold homes in the area.Ask a real estate agent: A real estate agent can provide information on recently sold properties and help interpret the data.Drive around the neighborhood: Observing properties in the area can give you a sense of the types of homes and their condition.Consider the local market conditions: Take into account factors such as the current real estate market trends, demand for housing, and the local economy when evaluating comparables.Note: It’s important to choose comparable properties that are similar to the subject property in terms of size, location, age, and features, as these factors can greatly impact the value of a property.

I guess it comes down to the interpretation of the definition of "one additional financed residential property". 

It just needs to be restored, minus the local Judges interpretation of "normal" wear and tear.