A high risk multifamily condo conversion, which is predicated upon selling the condos, would be best measured in IRR.

If you relocate and now reside in a new area that is outside of a reasonable commuting distance from the current home.Additionally if you plan on getting a second FHA loan, the lender must evaluate your circumstances to determine the circumstances behind the need for a second FHA loan to determine if it is legitimate or not, items include... length of time the previous property was owned by the borrower, and  circumstances that compel the borrower to purchase another residence with an FHA-insured mortgageThen there is also a big disclaimer at the bottom which reads:Important: Under no circumstances may investors use the exceptions described in the table above to circumvent FHA’s ban on loans to private investors and acquire rental properties through purportedly purchasing “principal residences.”

I also religiously research items especially bigger ticket items before purchasing this way I'm 100% certain I am maximizing value for the dollars spent.As far as sacrifices?

And assuming the big ticket items like roof/windows/siding/etc,. are done.

This conversation on reporting is really interesting to me.

@Horace Lewis First off you are missing expense items; garbage, insurance, lawn and snow, water and sewer.

I recorded our conversation. 

Things will certainly go wrong but you'll be better off having those three items taken care of.

I added this line item to my rental application -  1.Confirm that you have a checking account and that you agree to use the automated ACH payment process through the Internet based Cozy system (https://home.cozy.co):Similar wording is in the lease agreement. 

In some cases, simply disturbing the item risked causing an explosion.