Once you start violating the integrity of your own lease, you are on a slippery slope. 

So I've been doing my own taxes in Turbotax for 20 years now (I only own 2 rental properties but both were BRRRs), and I finally got stuck on something and went to a CPA 2 years ago, and he reviewed my past 5 years of returns and pointed out that I had made multiple mistakes (incorrectly categorizing repairs vs capex, calculating basis and therefore depreciation wrong, failing to realize that certain expenses for a home converted to a rental property start being deductible the day the property was placed in service vs actually occupied, the list goes on). 

I am based in Australia and an Australian citizen looking to start investing in Duplex to  4plex-style residential.

As you get started, having a strong team, especially a lender who understands your goals, is crucial.

It's mad dope yo. mid west rust belt areas have been the hot spot since I started BRRRR lending in 2002 in Detroit.. nothing has changed..

Pools are also not permitted with Streamline OptionFull Repair OptionMinimum of $5,000 in improvements203k Consultant is requiredFHA Approved Single Family “construction manager” who oversees and inspects the rehabilitation work from start to finishNearly any type of repairs is allowed (luxury items are not).

Some markets DOM will increase and start to get back to a norm of 90–120+ days

This extra scope of work make it over budget and start eating profits.

The returns have been astronomical for awhile but the market has started to shift this last year into different areas and surprisingly Old Town has seen the biggest decline.

I don't agree that buying a house is advanced...just seeing the opportunity at the start, and taking action.