I've been working with Standard Bank. 

The house is, in my opinion, not livable, but maybe my standard of living is just too high for this place.

He still signed and they asked the standard "did anything in your employment status change" and he answered no since the refi will save him $300/month and has plenty in reserves and no issue paying it.I told him once he's cleared to close from underwriting he'd be fine, but I'm also not an expert on this specific situation and he is concerned there may be repercussions about lying. 

- Yes, you can buy owner occupied once you're 18 with a standard FHA 3.5% down loan. 

Outside of that, there's almost no difference in rules from BRRRR to buying a standard rental. 

Good rule of thumb is that any property were current tenants/owners are living (or recently lived) to a decent standard SHOULD pass. 

Collected 92.6% of rents due for April which is pretty standard for us. 

Now trying to follow the same approach in US, but not finding sites that can provide consolidated view of data for all standard important factors.

If the seller refuses and no negotiated settlement can be reached, under the standard inspection clause the buyer can back out the deal.

Lending standards are tighening.