You have the burden of proof that they knew about these issues and that the inspector was negligent.

They've since changed the proof from 86 to 90, so it is a little stronger than I like, but still really tasty. 

OR requiring proof from them that they've put them in their name to get the keys for MoveIn.Water can be a challenge as some cities keep it in the owner's name only.

I have been in financing for 35 years and am living proof of what I am stating, plus have coached and assisted folks all over the country on the concept, to the tune of several billion dollars of loans. 

My accountant said as long as I keep all receipts for proof the money was used for renovations then it would be fine.I'm also wondering can I put 20% down and put the remaining funds into a new bank account that is separate from my personal accounts.

Proof of what the seller cares about exists in every transaction where the seller provides a concession to assist their buyers with their closing costs.Example 1, the Old way:Buyer offers $100k, seller pays 6%, seller nets $94k.

One of the largest competencies of REI is scalability through other people's time (OPT), often times carried out through PMs.If your goal is to own a smaller portfolio, then perhaps doing your own property management makes sense.If you want to acquire medium to large scale apartment buildings, then you probably won't even get a loan from a commercial bank without proof of using a PM with a solid reputation.

You may have dodged a bullet if you really forgot to check and verify all the items.

Almost bought myself a property with a major leak because the seller sent proof with receipts but I dodged a bullet when I conducted my own re-inspection!

Be prepared to provide alternative proof of income if you don’t yet have the required tax returns.