Do some more digging...it'll be good experience for you.

Hello I’m new to the world of real estate I’ve been digging in deep to absorb as much information as I can which is why I’m currently here my goal is to become a certified seller in the Nebraska area and I’m looking for some tips that could point me in the right direction thanks in advance.

I've done some more digging and I am going to run numbers on flips, new construction in bay area and socal, as well as some cash flow places in TX.

You really want the inspector to dig to find upcoming capital repairs.The other thing I'd look at is the type of tenants that are there. 

Stigma usually just digs the other man's heels in further

Do I understand correctly, even though it shows on the tax return as rental income, as long as you dont do any depreciation and as long as the lender does not ask If I owe anything on those, then it may be not considered as a loan...Unless the lender starts digging/asking questions, then obviously I am not gonna lie.

Otherwise, dig a little deeper. 

I had spent most of 2012 digging myself out of debt and now I was working and not being paid due to politics. 

I did some more digging and came to about the same conclusion, and you reaffirmed that.

If you’re open to it (and the math works out), you could live in one of the units, rent out the other 3, and qualify for an FHA loan which allows you to put down 3.5-5% and you wouldn’t have to dig into your cash reserves.