Obviously Wayne is not in a position to lay out cash (which is even more risky) and investor lending is difficult to obtain, particularly if you have no track record.

B)paper.

We agreed that I would write on a piece of paper that rent was paid in full and on time and I signed it.

However, as long as, there are jobs available in the area I would image that there will always be a need for rentals.My wife and I have discussed selling our home and just renting an apartment as we could get a better layout at close to half the cost (taking into account maintenance, taxes, etc...)

Its just a few more papers in the stack you will sign.

At one property a tenant used the garbage disposal as a paper shredder, not so good for the plumbing.4.

On paper this deal is good but, I have reservations about the relative cost of this much larger home.

Paper file the return, with the Form 8082 as the last page.  

I've said this a number of times before, house-hacking sounds good on paper but rarely pans out as people expect. 

I wrote the numbers out, with a side by side comparison to the traditional sale, from now until he invests his sale cash into paper (which is the norm).