In addition, can you introduce some references explaining how to keep records acceptable for CPAs? 

@Jazzous Anderson, I would talk to them about the disturbances and explain to them that they will be receiving a written lease violation warning aka notice to correct.

Talk to an attorney5.If vacant, then yes change locks after you receive the deed, if occupied you will need to evict.

So, that any payment you receive pays these bills FIRST leaving their monthly rent unpaid.

Currently, I have only been searching property listings on the MLS.I am seeking advice on whether to purchase an additional primary residence now with 5% down and rent my current owned home, or wait 3 months to save the full down payment for a rental property.

And evaluating the track record is a call that's made first by the taxpayer or their CPA, and ultimately by an IRS auditor (should one get involved). it is very true that the IRS cares about intent with respect to capital gains in real estate -- I've certainly seen cases where the statutory timelines were less important and the identified intent of the investor.with respect to determining whether you qualify as a developer or an investor, it's much more of a "forest" than the "trees"...so holding any given investment for 14 months prior to a flip is certainly no guarantee of receiving long-term capital gains treatment.I hope this helps.  

I have the parents co-sign and I and additional landlord insurance to cover any f*ck-ups they do.Works like a charm..

We're open to exploring condos or townhouses in addition to single-family homes in the Millbury, Grafton, North Grafton, Westborough, Marlborough, Worcester, and Shrewsbury areas.

Thanks for the additional feedback.

I was fortunate enough to receive a gift of equity on this property to cover the down payment and my mortgage is around 168k.