I figured that I could apply the same concept as I have just purchased the property and will be installing energy efficient appliances and HVAC As I need to be replaced anyways.again just being in the scheming phase I will have to let you know how it all pans out.

For reasons that were more emotional than rational*, we decided to keep the old house as a rental.

Not getting a lot of daylight so far, but the concept is on the drawing boards, enforced by the flow of federal grant money.What do you think?

They rationalize it ~Rational -lies.Often they use of the myth of the poor stupid seller that has been living in the Himalayas as a hermit for years and suddenly inherited a house, and because the hermit never heard of Zillow or Real Estate Agents, falls victim to the evil wholesaler.Conclusion: Be a person of integrity, but don't be fooled by or discouraged by the phony ethics police because they are either frauds or ignorant or both.

The status is a tax concept and is not related to the license.

"Living life" is just a way people rationalize not wanting to delay gratification.

Being my first investment property I felt this took a lot of the risk off of the table because there was proof of concept.

If you walk away from every single house that has a infinitesimally small and no longer problematic issue, you're never going to end up buying a house ever, and in this market there's no way a reasonable or rational seller would allow you to tear up drywall just to look at a leak that no longer exists.If the home inspector said you're OK, you're OK.

To hear the podcast or read in a book the advice of large volume, large business flipping, borrowing or partnering unnecessarily is a foreign concept to us. 

Since everyone's risk tolerance is different, there is no one way to calculate this simply, but think of the overall concept.