Buried in the statement you quoted is the phrase about accounting for actions taken once it takes longer than 7 days,which means you are—conceivably—having to explain to a judge what you did to mitigate.How hard is it to have someone drop off a portable/window AC in 24 hours?? 

"Whatever the mind can conceive and believe it can achieve."  

And when it comes to falling behind, they can conceivably foreclose after one missed payment.

Is it conceivable to locate a new neighborhood in Charlotte that welcomes investors?

It may not be as "quick" but it gets you started much sooner and conceivably by year 3 you could be up to 3 properties instead of just getting to the point of buying one.

So, a child could conceivably rent to a parent (activity 1), and then gift the parent $14,000 per year (activity 2).

He gets interest payments while you do whatever you were going to do to generate cash flow.That said, if you insist on a partnership, just know that a solid, well-conceived partnership operating agreement will require a significant investment of time and attorney fees.This operating agreement should cover all the non-obvious stuff that usually never gets discussed until it's too late.

Matt, let the numbers be your guide; do not start with a pre-conceived technique, property type or location.I wish you the best.

By June 1st I will now have 8 apartment complexes and 4 single family in NE Ohio.Whatever the mind can conceive and believe it will achieve!!

The only benefit I could see to Phoenix, Boise, etc. is that you could conceivably to a day-trip flight and save yourself on having to book a hotel.