I built about 70 homes in Oregon during this time and its been a challenge..

This deal reinforced the importance of speed and timing.

In my jurisdiction, they will adjust your taxable value the day you close, and if it has been a while since this deal closed, often times the taxable value that seller is paying on has not kept up with market values.  

Fannie Mae will allow you to count Boarder Income if you are purchasing a new Primary home, have had renters living with you for at least 13 months, have proof of receiving rental income for at least 9 out of the last 12 months, if you qualify for Fannie Mae's HomeReady program (which is an income limited program, you do not have to be a 1st time homebuyer to qualify for this program).

Quote from @Piper Pepperidge: Looking to do my first flip, was originally looking at baltimore, but it looks like it's moving towards a buyer's market and inventory is very high so I'm looking for other hot neighbors with low inventory.ThanksHottest markets are inner ring dc suburbs, moco, nova, even Howard and Frederick, I can tell though if you are a 1st time flipper you will lose money, I’ve been doing this for nearly a decade and I cannot hit my numbers, I met with a flipper a few weeks doing 12 a month, has his own crews, buys off market, literally a full time business, even he is struggling , it’s a bad time to flip right now tbh. 

I will be able to do my first purchase in Q4.My investment goals are to retire from my W2 in 6 years by the time I am 40, continue my location independence and split my time between the business and writing (it's hard to give up stories when you have worked with it since you were 19).

A month at Anytime Fitness will cost you less than $50 and they can shower 20 times a day without a problem.

You defer to a different time (when you sell again). 

Especially in high priced markets were married couple gets that 500k tax free.. do that a few times in your life that will make you more money than most rentals at 200.00 a month cash flow.

Getting documents and info to your lender asap allows them to review and address any potential issues before too much time has elapsed.