Summer vacation rentals in Cape Cod, this create an issue where these are treated as 2nd homes or investment house, where I would not get the best APR and I can't use my ROTH IRA as a down payment for my first home.3.

She then wrote back a paragraph of "issues" that we were never made aware of, such as mold, flooding, sewage backup (basically a bunch of BS) and said it wasn't safe for her to live there or her kids, blah blah blah.

I still have a list of contractors (electricians, plumbers, etc) that I know and trust but it would be far too expensive for me to use them every time a tenant has an issue.

Do you have already a good liability and umbrella insurance policy that will cover you fairly for a broad range of issue?

If he’s “financing” the purchase that means you’re buying sub2 or on a wrap, the loan stays in his name so he probably won’t qualify for another loan.I agree that could be an issue. 

Never did this come up as an issue even in all the BRRR strategy reading I have done or listened to.

I'm not out here trying to screw Uncle Sam, but definitely want to see if anyone has dealt with this issue and get some perspective. 

From what I've heard they have stopped issuing new licenses and have been enforcing the rules against people operating without a license.

@Matt Moylan That gesture will be highly appreciated, I saw you sent me a message, but for some reason I am not able to access my inbox because of some technical issue.

Now, looking ahead into the future if you don't plan to live there after one-year, those numbers might cause issues.