I agree with @Tyler Gibson because the numbers seem a little to good to be true.

@Jacob Sampson that’s true, I wouldn’t care as much about my property value at that point as long as I’m cash flowing but I also heard that in a downturn rents can decline as well due to job loss.

Will they use it wisely for a true need?

True story.

Is that true?

will depend on your area, you will need to perform due diligence. deals don't fall out of the sky, but you will need to go find it. tell everyone around you what you want to buy, go knocking on doors, speak to investor friendly realtors.Basically, the more people you speak to and network the better chances of you finding a deal.Make sure you know how to run your numbers to make sure you found a true deal.

To use your own phrasing, I think your true "stupid tax" here is losing a formerly reliable tenant because you have to evict at this point.

APPLICANT REPRESENTS THAT THE INFORMATION SET FORTH ON THIS APPLICATION IS TRUE AND COMPLETE.

I see that more on the East coast as older cities like Richmond have gentrified, and correct me if I'm wrong but I'd guess that the properties are still on the older side even though they are in good areas.That's true, a lot of Richmond City proper is older buildings.

While it is true you can’t receive a commission representing yourself in a purchase or sale in another state, you certainly can receive a referral fee for it and as such, it is not uncommon to have your buyer rep or listing agent pay you a referral fee on your purchase or sake out of state.