You may want to speak with other real estate accountants if you're not happy with your current one.Good luck.

However, the idea of running a rental business while waiting six months for payments especially with bills still coming in doesn’t seem sustainable.Can anyone speak from experience in the current market?

Generally speaking the closer you get to downtown the rougher the area is.

I speak with the tenants personally and they are usually happy to tell me all the issues.

Thanks I honestly hate public speaking Which is weird considering I was in front of classroom for almost 20 years If your ever in po m-f shoot a call or text  I’ll try and make time to meet for a coffee

Re 3X 6X not sure what you are speaking about.I was addressing reserve requirements which do not have anything to do with PITI 

Generally speaking solid insurance and a good umbrella policy will provide ample financial protection for most liabilities.

Typically speaking 20% down (80% LTV) is the bare minimum that commercial lending requires.  10% down is unheard of unless you are getting a great deal and negotiate some small seller financing in second position or getting an SBA Loan for acquisition where your business will occupy over 51% of. 

Many lessons have been learned firstly is you can’t be too nice or trusting and second is, don’t wait to figure out the refinance and cash out process and until you are almost done with rehabbing the property because currently going through a very lengthy, cash out refinance ordeal at the moment as I’m trying to get financing terms finalized as we speak.

Good question here, generally speaking one year is the expected timeframe before you would be able to purchase a new primary residence (also referring to how long you would generally be expected to reside there).