However don't think they just "happen" and are reported like your primary residence exclusion.  1031 exchanges must be performed for you by a qualified intermediary and put in place prior to the sale of your old property.  

When you sell the home, most buyers perform inspections and so work has to be done right.

If you dont have any of the grey area types of income where the calculation is subject to loan officer skill and supporting documentation to tell a certain story then you'll be fine and your 48% DTI may be accurate. - you have 5% or less down so hopefully you're qualifying for a 1 unit or single family residence (SFR)/ condo because conventional in "general," cannot lend to 2-4 unit properties as a primary residence with that low of a down payment.

I am not sure if that is accurate, it doesn't make sense, if you buy the house, and approach the city to pull the permit in good faith, then you shouldn't be fined.

Need some help analyzing.Property Valuation = 66kNote's Unpaid Balance = 25.2kNote Sellers price = 21.6k (standard 85% of UPB)Sellers claims note "performing", but has unpaid taxes of 8.5kLoan maturity in 5 months with balloon of 25.2k paymentChances are this will foreclose!

Does their property manager embezzle from them or just otherwise not perform.  

His original Distressed Property Newsletter was outstanding, accurate and exceptionally informative.

This individual helps hold me accountable to the action items I've listed to perform the goals I've outlined for myself (I work quickly and take massive action, so I've outlined goals taking me only into the end of the first quarter of this year).I'm constantly on YouTube looking at different videos on a myriad of topics concerning flipping, financing and real estate in general (usually this is a last resort /exhaustion type of thing. 

Does this seem accurate?

Unfortunately that isn't alwaysthe case but here are a few of my past sellers that can vouch for how I do business and that I will perform as we have agreed if you decide to move forward with me."