Unless you are going to do a full IRS audit (on smaller properties at least), I really don't see the value in any of the data provided by the owners - so much is dependent on how that individual manages their property and their honesty.

Be honest. I

How would I be able to keep him honest?  Is

In all honesty, to fully understand the federal and state regulations for a simple turnkey property, it will likely cost you around 100 hours of research, study, and application. 

JMOIn all honesty, they were very nice people, and I even offered to letthem use my truck to help them move.

@Wayne Brooks Well thank you for your blunt honesty guess I'll have to work on my creativity because there's always a way XD

@Jay Hinrichs, I truly appreciate the honesty. 

To be honest, I can't speak to how Grant and the like do what they do (because I'm not there yet). 

I believe that, out of honesty, if you know that there is a risk your buyers could lose half of their funds, you should disclose this information before making a quick sale.

I appreciate your vulnerability and honesty.