In my area, they actually require a little more than the local municipality and lately have been especially strict on cracked paint because they were recently sued and lost.

Tax impacts include deferred gains, adjusted cost basis affecting future depreciation, and strict adherence to IRS timelines.

Hi everyone,Im trying to figure/find out how strict the rules are when it comes to getting an FHA loan (I want the minimum down payment) and renting it right away.

Strictly cash flow is missing the forest for the trees. 

But it's not strictly required.3.

It'll strictly be non-owner occupied?

During the renovation phase, adhere strictly to the scope of work and budget, conducting regular walkthroughs to monitor progress and ensure quality.As the project nears completion, prepare for sale by staging the property to highlight its best features and create buyer appeal.

@Richard Benjamin Wilhite, @Bill B.makes some good points about loan terms and the strict identification rules for a 1031 exchange.I would add from a tax mitigation perspective that buying the largest property possible will give you the greatest amount of cost segregation possibility and at the lowest cost since it would be one study rather than several. 

I am working with a nonprofit organization that will be using this home for a program that is geared strictly to homeless veterans to find them suitable housing and assistance with finding jobs.

The lending is strict but the terms are great.