It's called people are lack a daisy and don't know business sense without someone walking them step by step through it.

I thought it would be as simple as adding up all of my losses  from Schedule 1 - Additional income and adjustments to income line 5 over the past few years. 

Just because you walk away from the purchase if the dealer cannot sell it for what you desire to pay (as cheap as possible) does not mean it is communism.  

@Christopher Villa @Kim Martin can you walk me through the process?

Inspector had to use drone and from what he saw it checked out - no clear reason to pay for an additional roof inspection.

Additionally, think about the rental demand in your area and how that might affect your vacancy rates.

You'd need an estate attorney or similar professional to walk yo through the pros and cons. 

Additionally, you do not look very good in court, when a tenant claims they do most of the maintenance beyond what I mentioned above; you may even find yourself owing the tenant for their time and labor. 

After I was done pulling a permit for a garage conversion to give me a proper master bdrm, walk in closet, mud room and last but not least 2nd badly needed bathroom (it should be against the law to only have one bath in a home) I got quotes for a "rough in" for the toilet in the bathroom that were anywhere from 7k to 22k.

So I'll initially start with the minimum loan size with some cash reserves taking up the additional space between there and purchase price.