Wow @Ross Denman, that was exhausting guide.

As a rule I generally assume expenses to be 50% of the gross income for my first look evaluation no matter what expenses the seller reports (unless its more than 50%, then I will use their number.)From there you can get into more detail on what type of capital expenditure budget the property might need depending on what physical condition and what strategy might be best.As far as due diligence once the property is under contract, or maybe before in some situations you will need a much more exhaustive list.

If you exhaust all options and no one will finance you, I'd say save up all the money you can and hit it hard when you graduate.Best of luck to you :)

They just don't happen that often when documentation is tight and a good QI with standing is used.  

I felt very confident at the time that it would withstand full scrutiny if challenged, despite the fact that it was never ultimately challenged.

Such as having a ballon every year for 100K until it is exhausted.4) If, when I am entitled to receive the funds, if I instead want to 1031 the balloon into another property, can I do that?

However, and after exhaustive phone calls to the county SO, Clerk of Courts & auditors' offices, no one knows or will give that answer because it is "legal" advice.

People who are not able to withstand a deviation of days or weeks  probably shouldn't be in business. 

I’m only aware of subletting with stand alone units.

If someone is looking to hold for 20+ years and has the finances to withstand a turbulent ride, then they'd prob be ok..