I would not do it, and I know which one is most likely to hold up best in a downturn, so I doubt that your plan to make a boatload of money and buy back in when the market goes down would pan out.Your theory on never claiming it as a rental therefore selling tax free is an interesting one, though an IRS auditor reading a publicly posted admission that it was a rental may disagree.

If a client asked me to do an audit, I'd laugh, say no and find them a competent auditor.  

If it were me, I would hire an accountant/tax preparer who used to be an IRS auditor.

I could use the county auditor's site, but I want to avoid having to drive around looking for the properties.

So I am familiar with my counties auditor site but in another county I am targeting they do not give the separate mailing address at all!

I purchased a house that was listed as a triplex on the auditor's site.

If it is an individual I look up the property at the auditors office and verify name and number.

I can't imagine any auditor worth his weight would allow that.This is a situation where if it sounds too good to be true, it probably is.  

While doing my due diligence I checked the county auditor site to cross reference the property information.

Here is the county auditor info with foreclosure sale price and the listinghttp://www.hudhomestore.com/Listing/PropertyDetails.aspx?