No security deposit shall be retained to cover normal wear and tear.

I just did a simple 10% down, 5% interest, 15 year note, set up an escrow account... with your credit and ambition, someone may take a shot with you (I would for example, if I were looking to sell and had a place near you)...So maybe keep an eye out for these opportunities, maybe listed, or just someone in your community, church, or neighborhood that may want to exit the daily management of the property but still retain the stream of income...My second best tip--like above--use the 24 months to educate yourself into an uber real estate investor.

I think if you fear punishment from the SEC you should call them directly and ask what you have to do to be compliant with the law.Don't give your entire trust to strangers on the internet when dealing with legal issues.You should also always have good lawyers on retainer to ask these questions because it's their job to keep you in business and out of trouble.

A few weeks ago we took a developer to lunch to ask questions and get his thoughts on the Baltimore market, turns out he charges as a consultant and charges a retainer.

They use a land contract and the owner retains title until the last payment is made

Typically the seller retains rights in deducting the property taxes until you actually buy it. 

.|   Could need some kind of drainage system at the bottom of the hill behind the house, or a retaining wall to divert the flow.The slab is cracked and the floor slopes downward a bit toward the front of the house.  

House-hacking, as it seems to be called here, is a great way for people with modest cash reserves to get into the game, and I know a few who have successfully built equity while retaining more of their income (by reducing their own housing expense) for down payments on future investments this way.

So do I need to start keeping CPA/accountant on retainer for future deals.

You want to keep the seller motivated and not be lazy getting information to you in a timely manner.Try to leave as many outs as you can in the purchase and sale for due diligence to cancel for any reason and you retain all the earnest money.No legal advice given.