You can't "clause" your way out of liability but I think this one could be minimal compared to the potential tenant value if done right.

The only problem that I encountered was that many lenders do not offer the product or those who do, process so few of the loans that the process gets delayed. 

They have minimal expenses and net me $650 cash flow, after all expenses (including repair reserve).

I have a very time-consuming day job so will be looking for minimal rehab or turnkey.

Their income has not changed or very minimal.

Although I would argue that we spend as much time on this business as our day jobs, my main goal is to minimize the taxes paid on the supposed income that we haven’t yet realized.

Maybe I'm missing something here but under the Fannie Mae delayed refinance rules, he has to refinance within 6 months or else wait a year.

Due diligence on condos can be straightforward because there’s so much information available.A newer property, close to home, good location, with minimal rehab – and assuming positive net cash flow – is a great way to cut your teeth.

Welcome to Bigger Pockets.You will make mistakes, but, at 25, time is on your side - be bold, but not foolishly so, while you are young and have minimal to no family obligations.

Anyways it was very hassle free and paper work is minimal.