On the contrary, something like real estate professional status is NOT a loophole, since its directly mentioned in the tax law and is heavily litigated. 

Currently waiting on inspection report to comeback.I have more deals like this in my BiggerPockets Marketplace Thread.This is my best deal since I began investing 3 years ago.I felt like sharing it with the community to inspire people to take action! 

The code enforcement officer said he mentioned these issues to the sellers and the sellers' agent.

So should I be looking for a brokerage company now or should I wait until after I have taken the exam?

The number you failed to mention was how much you have into it.  

I feel at this point I should mention that I do not use coercion to get my contract signed, nor do I actually walk into the house with it literally "in hand". 

Hi Michael,It appears my brother Ian O'Shea was already mentioned in this thread.He's of this 'young gun attorney' mentality mentioned by @Troy Gandee.

So, I guess my options are to either refi the current rental or just wait and save up for a new down payment on a conventional loan.  

In the end we decided to wait until probate closed to do the deal. 

I mentioned above that it is a home loan and not construction loan.