but I feel many syndicators take their acquisition fee and spend it, or immediately reinvest in more marketing, or more head count, or new offices.  

Also, if I place bad tenants frequently, I can count on being fired, so what sense does that make to ruin my reputation and lose other business for half or 1 months rent commission?

One tidbit for your specs for your new loan - the new rental income on the property you're purchasing will be counted at 75%, not at face value.

Having to go back and forth to the property 5 or 6 times for things that could have been handled at the same time is rather annoying and that's not counting the fact the realtors have other appointments to get too or could have worked on other deals while the lender did what they were normally supposed to do etc.In my case I had an ideal deal that fit even their own requirement's, hence why I wanted to go with it.

I do anticipate that the space will count as "finished" on an appraisal.

Would that count as representing yourself in the transaction since you aren't trying to be one of many wholesalers in a company or trying to primarily wholesale?

However, the "best" market is ultimately the one where you can assemble the strongest real estate investment team—that's what really counts!

Watch the cameras on check in day and count people coming in?  

Also, if you rent short-term, your income after the first year will be counted in. 

I usually do a test run of my taxes in November so that I have time before 12/31 if I need to make any moves, so at least I know what I can count on at the bottom level, since I already know my bracket will end up being at or above 24% this year.