If this occurs with each rental it will start to reduce your ability to qualify or you will just have to earn more income in other areas to make up for the rentals dragging you down.Beyond income issues of buying rentals prior to the primary, there are no issues as long as you qualify you'll be fine.

I'm guessing with your corporate background this will occur within 5 years of part timing.

That's actually how I started.This actually accomplishes several things:It keeps my home and the roof over my head out of harm's way.It motivates me to peddle fast and hard to pay off debt.The last economic crisis is littered with people who used their residences to fund their investment plans.

As far as disclosure goes, do you put in the wholesale contract or have a separate contract all together with you disclosing you're a licensed RE agent but acting as an investor, this way its shown that you've disclosed this to the seller and no recourse can occur? 

Since the DCAD shows it as a SFR, my concern is that a renovation occurred at some point without appropriate permits. 

I feel l that I can rent to anyone whom has a fairly clean record, but it seems like there are fewer and fewer qualified applicants who see my rentals, when a vacany occurs; Starke also seems to have very bold aggressive  individuals whom have a problem with being told there are minimum qualifications in which they may not qualify. 

We would rather have a lump some ready to cover trouble from the start, than build it up over time only to not have enough if trouble occurs before the % we take out of the rent is enough to cover it.Over the years we find this to be the safest way of handling all of this.JV

As Mike mentioned, I am primarily concerned with the language of the note and mortgage, and making sure I have legal remedy should a default occur.

Seller will not further encumber the property and an affidavit may be recorded at Buyer’s expense putting the public on notice that the closing of this contract will extinguish liens and encumbrances hereafter recorded.RADON GAS & LEAD PAINT: Lead based paint and Radon, a naturally occurring radioactive gas that may present health risks to persons who are exposed to it over time, may exist in this property.

She convinced me that if I like a property great, send a reply; otherwise it's no harm to me.