There are so many complicated stats, figures, etc. out there but the basic principles of supply and demand hold true and I just can’t believe I’m seeing such a breakdown in the public’s ability to recognize this.

The more you look the more you’ll refine your criteria and recognize the good or potentially good from the bad.

It sounds like the most important thing for me to do is to track and record all of my expenses/income and make sure to recognize my depreciation for the rental portion of the building.

Maybe - but that relies on human inputs and it's yet to be proven. 

He mentions outdated floor plans, would someone kindly expound on how to recognize such a floor plan? 

Every step I took was easy and proven before by people more experienced than I.

I have consumed quite a bit of literature on a lot of other topics relating to real estate but have been avoiding this topic because I recognize how boring it is and I have to have something that interests me in order to hold focus, thanks for any future info in advance!

When her first month rent payment was automatically removed from her bank account 6 months later, she did not recognize the debit as being legitimate so she had her bank reverse the ACH payment.

I'll help clarify the loans a little here:Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

For the fully engineering approach, which is not only recognized by the IRS, but the rules and criterion are clearly spelled out in the CS audit techniques guide.