Than eliminates the live in one unit and rent out the rest strategy. 

I do believe those should be adjusted -Maybe not eliminated but have caps.In a real estate group I am sure that goes over like a fart in church but I know the super wealthy are the ones who are saving tens of millions per year from it.

Eliminate, Delegate, or Create.Most of the time we are doing things in our business that we shouldn't be and it's costing us much more than just investing in a system or hiring someone part-time to assist with the effort.I thought I would go ahead and share a recent conversation I had with an investor that read tons of real estate books, attended webinar - after webinar, even attended at 3-day bootcamp on "How to Wholesale Like a Rockstar".However... a year later, after all the hoopla and rah-rah ended... he hadn't done his first deal.... sad ;(So I set up WMRPFormula.com to break down EXACTLY how simple this business can be.The most successful people I know all have coaches and mentors.Remember... be a servant,Cory

I feel as if I do not have enough checklists or ways to eliminate houses from my criteria. 

If you are currently renting then my first move would be to get you into something you own where the rent from the other units offsets or eliminates your mortgage payment.

Instead, the homeowner (seller) finances the purchase, often at an interest rate higher than current mortgage rates and with a balloon payment due after at least five years.This can simplify the process of buying and selling a home by eliminating the need for a lender, appraisal and inspection.How Owner Financing WorksJust like a conventional mortgage, owner financing involves making a down payment on property and paying off the rest over time.

I was told by other TX investors that the houses are divided into 2 categories: the once with foundation issues and the ones that will HAVE a foundation issue in the future.So, I thought if we buy a house with a REPAIRED foundaiton, we will eliminate the fear of having have to deal with the issue later

How do I eliminate the potential of a tenant coming back after close saying they still live there or something?

If there's a random time you can stop by and look at that little (here in San Diego) at that little spinning blue sprocket (when everything should be shut off) you could at least eliminate that.  

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.