Since we have zero income, I'm not inclined to pay a CPA several hundred dollars to do our taxes, so I'm trying to do it myself. 

No income no doc .

No tax returns, no W-2s, no den to income, and 90% of the other conventional red tape is eliminated.

Either with residential or commercial, yes, there are programs that would allow you qualify based on income/debt.

I can probably do 3 to 4 flips a year and replace my W2 income and cover Health insurance.Yes I know, I'm not looking for advice on the podcast, but others are and the advice in this one episode was shocking and scary. 

He had a female CPA on who talked about the benefits of an STR Loophole for those of us who have W2 income as a way to take deductions that are normally not permissable when the tax payer makes a certain amount of income. 

My long-term goal is to replace my income with passive income to not have rely on my day job.

I do understand I went from the top tier tenant that will pay the most for the perfect setup down to the unit that can be paid for with section 8 and will attract a lessor tenant or someone single / new young family / retired / disabled / fixed income etc.Here's the deal figures With closing paid , seller counters 10k above my offer, 6% VA loan, no points Does the property lacking those features make it a deal breaker ?

Loan approval is mostly based on projected rental income, similar to commercial properties.Disadvantages - higher interest rates and can be a riskier investment. 

She declares bankruptcy/pays off those cards with the cashed from the sale and moves forward investing as a business entity.additionally, her personal residence is income producing as well since she rents out two rooms on Airbnb and runs her cleaning business out of an office there. my questions are1.