In one instance I was taken for a 5 month ride of misleading promises while I awaited completion of a rehab that was supposed be done in two - that was on a 3 unit property in Chicago.

Rod also has extensive personal experience with and discusses the relative merits of single family vs. multi-family investments.

Ideally, the accounting would reflect how much each member is able to entitled to safely withdraw (for instance, after a year of positive cash flow).  

It is my understanding that in calculating effective income for an FHA loan, non-taxable income (like child support for instance) may be grossed up at the greater of 15% or the borrower's tax rate for the previous year.Do 401(k) contributions count as non-taxable income since the borrower received the economic benefit but did not pay tax on it since it was deducted from his/her paycheck?

Is your buyers list not extensive enough?  

My wife is wanting an extensive business plan before I can buy my first and this is one of the points I need to cover.

I think there are plenty of instances where it makes sense.

In my old city this is stuff is pretty common, yet houses burned down by the standing electrical work as opposed to extension cords etc are pretty rare, plug in electric heaters are THE most dangerous household item by far.

In most instances disposal is jammed and simply inserting an allen wrench underneath disposal will unjam or pushing reset button. 

The use provisions of your ground lease and more importantly the rules and regulations of the airport (often called Minimum Standards) will overlay and in most instances prohibit non-aviation uses in the hangar.