I attribute much of my success to the principles of how he teaches us to "look" at things, treat people and handle circumstances.  

The use of this formula in certain circumstances can mislead.  

You never know, you might get a call when/if his circumstances change for the worse, and when he comes to you, you'll have the better negotiating leverage.

Some have better results than others at their chosen paths in life based on hard work, determination, circumstance or luck..We are not talking about idiot savants.

When renting out your condo be sure to screen your new tenant well to make the renting experience better for you and also make sure to really analyze what your monthly expenses are going to be so you can save your rental income for unforeseen repairs or emergencies.

Here in the western US I wouldn't buy a property without title insurance under any circumstances.

You are correct, you did not say to commit loan fraud.HUD states:"You may only break the owner occupant requirements if you relocate or establish residency in an area outside reasonable commuting distance from his/her current principal residence.FHA security instruments require a borrower to establish bona fide occupancy in a home as the borrower’s principal residence within 60 days of signing the security instrument, with continued occupancy for at least one year.Important: Under no circumstances may investors use the exceptions described in the table above to circumvent FHA’s ban on loans to private investors and acquire rental properties through purportedly purchasing “principal residences.”

However the total picture you present is what you will use to demonstrate your intent including - Length of time held, past practice, current use of the property, your stated business model, circumstances surrounding the sale, corespondance between you and your accountants, etc etc.  2.

I understand and agree that people need to allocate a standard amount/percentage for unforeseen maintenance and capex, along with vacancy. 

The only risk thing here is that the job turns out to be more than a 1 day event due to some unforeseen circumstances which can and do happen!!!