I paid for a consultation with a colleague who was the IRS technical advisor on code 469 for 25 years to offer some feedback and clarity because it is so unique. 

On the other hand, NOI and Cap Rate become extremely important because that determines value and to a large extent, the size of the loan you can get.The only point where this becomes a gray area is if you were to combine multiple contiguous properties and run them as an apartment. 

It's definitely a unique strategy for unique situations.  

My parents had rentals when I was a teenager.A combination of talking to my mom, interest rates and life made me buy my first purpose bought rental. 

If you are considering them in this market environment, they must have some uniqueness that is worth considering.The asset and market are important but the operator and how they manage the project are critical.

I would also suggest at least a combined 15% for maintenance and capex, especially for an older property, maybe closer to 20%.

You could also combine 1 and 3, putting 15k down on a 400k ish FHA property, and then 35k down on a cash flowing mf property out of state.

But with a combination of healthy savings and decreased living expenses, all of that can be recouped very quickly.

The eIDAS regulation enforces the standards and procedures on issuing e-signatures, where the e-signature with the highest level of security and probative value is called a qualified electronic signature (QES).Three types of e-signatures that are categorized by the eIDAS regulation are classified as:Simple Electronic Signatures – Broad scope, general usage, typically low security and no authentication of the user is required.Advanced Electronic Signatures – Authentication of the signer is provided through the issuance of a digital certification by a trusted certificate authority (CA), combined with the usage of multi-factor authentication.Qualified Electronic Signatures – Similar to advanced electronic signatures, the signer is authenticated; however, in this case the CA is supervised by authorities which have been accredited by the EU.As a result of the eIDAS standards and regulation, users must be positively identified and certified as being the individual they claim to be before they can issue an e-signature above the simple electronic signature level.

Your common sense is shaded.But get out there, and physically manifest what you are doing on the computer and suddenly you clearly see/feel that this would NEVER work.Now you can combine filters, right?