. - What's the best cell phone app for Realtors to track "miles driven" on IRS Form Schedule C, page 2, part 4, line 44, box A?

The last thing you want is a is a roof to need replacement in 5 years and have the repayment cost equal to...5 years of cash-flow

No matter what story you can tell yourself about future appreciation, hidden value, path of progress, gentrification, hot markets, hipsters moving into the neighborhood, or whatever other non-scientific, non-data-driven "evidence" in favor of why you should buy this non-cash flowing property now because the future prospects are great, DON'T DO IT.Only buy for cash flow.  

Near the U of A is safer, but there's a premium to that.

Section 121(b)(2)(A)(i) tells us that only one spouse has to own the property to be eligible, but Section 121(b)(2)(A)(ii) goes on to say that both spouses must meet the use test (live in the property for 2 out of 5 years).It's important to note that the use test does NOT begin after marriage.

I'e driven a few neighborhoods and compiled a pretty good list.

@Andrew A., I love the thought behind this post and kudos to your entrepreneurial spirt and willingness to think outside the box. 

And the reality is that none of us here have driven by the property, know who the other tenants are, longevity, car count, blah blah blah.

Development is driven by the availability of financing more so than the realities of doing so.

Credit unions and small banks are very relationship driven and will work with you.I have since used both lines and some personal savings to buy properties in cash and refinance them.