This is a website that was mentioned in BP Money Podcast EP 303.

So after being laid off a few times in the last 8 years I decided to get back into investing but this time focusing on buy and hold multi family real estate so that I could built wealth that could help me retire my wife who just had a long battle with cancer and survived , but is now back to work, and I want to give her a relaxing life free of all the stress of the world (by the way did I mention she is also in the mortgage lending field) so that explains the urgency to retire her from w-2 work ! 

You mention buying a home or condo.

It is actually just a tool to create the already mentioned accelerated depreciation.

Plus, as mentioned your risk exposure would be huge if you didn't have a contract in hand to lease, plus they won't want to lease from you, because they are a Sticky or capture tenant.Start small and Make Your Big Mistakes Early.

Here is the clause that they are trying to void, and have mentioned that we are the ones not upholding the clause as an excuse to void. 

If he is still doing the same as in the past he would be with the top ones mentioned above.

I found the home as a for sale by owner by owner and it had a four car garage in a great location with a large lot.

As others mentioned, a DSCR is worth exploring here.

if you allow the use of it I would mention something in your contract that the tenant is responsible to manage a controlled safe fire or something along those lines.