@Marie BuckinghamI am not a lawyer of any sort, and maybe my understanding is completely off, but I didn’t think the statute of limitations clock started until it was known that an offense was committed.

I don't know what his offense was, but I was sad when he bought his own house and left.

Nothing said was offensive.

That means getting a blanket loan on 3 properties still counts as 3, not 1.  3- Neglecting to report a loan on your credit application just because it does not show on your credit report is a fraud, it's a federal offense. 

Unlikely you will get caught but mortgage fraud is a federal offense.

The numbers you shared aren't great from a cash flow standpoint (no offense) and I think if your plan is to unlock the equity you have by selling, pay off debts, and buy a multi to house hack, that would be a better long term approach then hanging on to the townhouse.

I'm doing it, I just take offense to the comments suggesting that merely by asking, I'm some sort of slumlord.

No offense, but stop finding other **** to do and just go figure out how to make some money.

If this works for you great, but the black guys I have seen in this business who are "Tearing it up" work heavily on the offense (earning side) vs the CYA side...

There is NOTHING bad or offensive to be proven wrong.