Maybe it sounds bad, I don't know, but my goal with investing is not to spend all day "pounding" the phone calling, but rather to develop a steady source of passive income so I can do what I enjoy such as playing golf with buddies on a Wednesday.

Most of the ones you find won't cash flow unless you're doing some kind of value-add play. 

You gotta pay to play.

It's nice to have all 4 components of making money in play for a S2 w/ wrap, but 3 out of 4 is never bad. 

Ideally the main goal of using the BRRRR strategy is to be able to use the same bucket of money over and over again to acquire endless number of properties.  

DTI and other financials will still be at play, I think, but best to get the lenders policy on those loans directly from them.

The discounted price difference, does that come into play, i.e. come across as a taxable income? 

Did I interprete this wrong or PM is playing a smart one on me?

With all that said this territorial possession is about on the same playing field as the US was ten years ago during the great depression. 

Ideally, I am hoping to find someone with experience with HUD and/or Fannie Mae properties.