If, after the property evaluations come back, the deal meets our criteria we would extend a loan offer, and at that time the regular types of loan costs come into play.

Sometimes it means washing the dishes a 2nd time.From time to time I double check myself.

Do those numbers get transferred to a schedule E or am I actually paying regular old 1099 self employment tax?? 

The lingo in the US is different then in NZ, so sometime asking questions helps to clarify few points.We also don't have large, cash flowing multifamily building so yes, im getting myself educated on regular bases. and will probably continue my education forever. 

And we have a VA appraiser here that kills deals on the regular and in his mind he is helping veterans from overpaying.

Flexibility on purpose what you can use funds for.Other options are to save in regular mutual funds contributing on a monthly basis- taking advantage if dollar- cost averaging..You may want to talk to one of the financial planners.

In a VR, you need to wash every single fabric thing that's washable every time you change guests.  

I am a commercial real estate attorney and deal with commercial leases regularly.

I have been reading books, BP blogs, and listening to BP podcasts regularly.  

But of most of the deals I've analyzed, (assuming I'm budgeting for safe 10% maintenance and "regular" rates of tenant vacancy - 5% or 1/20 months), there's no way to achieve those sorts of returns, even with a 80% LTV leveraged position.So am I missing something?