If you are obtaining a loan at owner/occupant rates and do not use that home as a residence you are committing fraud. 

You could add another 4 identical duplexes in the future if you want.4) There's no renovation required.

Receiving a mortgage under the pretext that it will be owner occupied is mortgage fraud.If the lender were to discover you are not living in the home you could be charged with fraud and they would likely call in your mortgage.

But, so long as they AGREE to you swapping it into an investment property after just a few months - then sure, we won't need to warn you of the words: "mortgage fraud"!

If you sign that, and do not have the intention of doing so, you will be committing mortgage fraud.

In other words, dreaming up expenses to save on taxes will hurt your ability to qualify.I know self employed folks have not taken obvious or entitled expenses, were willing to pay more just to have stronger income for borrowing, no law against paying more, but going too far, claiming more than you made will be mortgage fraud, applying for a loan.

Additionally, there is an unpermitted small storage addition for lawn mowers and stuff on the side of the home (approx 5ft wide by 2feet deep) that was built using identical materials of the property so it blends in and looks of professional quality.

The property itself generates the identical cash flow whether purchased with cash or 100% financed. 

Based on a lender's appraisal, my CMA, and the opinion of an independent appraiser who's opinion I trust dearly, the market value of the home is right around the $440K-$480K,Now, what is the market value of a home that is visibly/tangibly identical to my listing, but held with fee simple ownership?

The money you might make in rent would pale in comparison to a felony mortgage fraud charge on your record.