I never understand clients that want to "eliminate" the buyers agent.....

If you do go the route of FHA so you can use the savings for another investment purchase, I would recommend refinancing when you have equity built up to a 75% LTV to eliminate the mortgage insurance with FHA that is costly. 

You can demonstrate your intent through numerous means such as: Emails and other correspondence between you and your attorney, accountant, realtor, qualified intermediary and other advisors; and, Reporting the property as rental/investment property on your income tax returns; and, Reporting the property as rental/investment property on your financial statements; and, Reporting the property as rental/investment property on any loan applications or documents; and, Keeping really good accounting records documenting your rental or business use activities; and,Limiting or eliminating personal use of the property; and,Actually holding the property for rental, investment or business use as long as possible.

So you would be able to get a little bit of money out on the property if it appraises at that amount as well as eliminate the mortgage insurance that you are probably paying.

@Cody Wilhite, it's not a loophole but if he can exercise some patience he can take $500K of profit tax free and 1031 the remaining profit into new real estate thus eliminating the tax totally through a mix of tax deferred 1031 treatment and sec 121 primary residence sale.He needs to be willing to hold on to it as an investment for a year or so and then sell.  

Look at your monthly expenses on your credit report and try to eliminate or reduce the payments.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

I'm all about paying yourself first.. and that includes eliminating debt. 

The key is screening well which can minimize, but not eliminate, issues.

Having people fund my campaign will eliminate my worries to fund a campaign, and I will still land at least 1 deal from each list per month.