They can do things which you would never imagine and to be honest you need to learn not to use your standards as the standards of tenants.If you do decide to become a landlord you are going to learn a lot abot people that you obviously have not encountered in your life.

I have learned a couple of things and one is that I'd rather buy a property that is vacant than inherit some tenants who don't meet our normal standards.  

@Jonathan Marcus, I had to put down 20% on my standard mortgage anyway.

Hi there, I live in Vancouver Canada, and do not currently own any property. I was recommended a well known Canadian mortgage broker that has lots of experience with REI. After providing all my documentation, I have b...

it's an As-is standard FL contract.  

Google "fannie mae california deed of trust pdf" or "fannie mae fixed rate note" or similar and you will find samples of standard conventional loan paperwork.  

The good things about owner financing is getting a property w/o going through all of the time/effort/expense of lenders and it won't count against the number of standard loans you get. 

Besides the cost, are there any other issues potential issues when doing a reverse 1031 vs. standard 1031?

Derek R. 1X gross income or 4X net income is a fairly standard starting point.

CPA's are not infallible, but clients have every reason to expect their CPA to communicate a mistake that was made and to carry a high standard of integrity.