You're more likely though to benefit from the new appraised value though once done (even more so since you did the work).Also, it's often overlooked but you're going to have new closing costs for the loan.... which probably are going to be a couple grand.

Our goal is to rent the back unit out for a couple years cutting our mortgage payment in half or so while we stockpile cash for our next deal. 

I am wondering if I could move to a different home in the same area and acquire a “normal” mortgage for 5% down or so, live in it for a couple of years then do the same thing one more time.... ending with 2 rental properties and a home for myself.

Working on a couple others.About 3-4 years ago, one of my neighbors who knew we rented bought their own townhouse to rent.In the past year, my father-in-law bought two different rental properties.My MIL (they are divorced) and her husband are looking to buy a rental property now.My neighbor in the last week mentioned they are now buying a condo to rent.When this many people in your circle of acquaintances jump into being landlords, is this a good sign or bad?

But yes, that would be hugely important to know if I would have to replace those big ticket items in the next couple of years!

You may be able to joint venture with other IRAs or other individuals as a couple other ideas. 

I think you've already received some great feedback from the likes of @James Wise and @Dorothy Butala, so I will try to keep my post short (not generally my strong suit).As has been pointed out, a couple of the assumptions in the original post may or may not be correct, depending on the turnkey provider you use.

I've seen  a couple articles online about people who have used Quicken Loans "rocket mortgage" and  suggest it is  very good for rates, customer service and being user friendly .Have you used Quicken Loans?

I would be interested in purchasing.Thank You for your Time and consideration.This has worked for me a couple different times. 

If you are doing it in excel - a receipt for $100 that consisted of $25 paint, $25 tools, $50 roof supplies.can be entered into excel like$25 paint$25 tools$50 roof suppliesAt the end of the year you can sum up all the costs by description and provide that to your accountant.A couple things to point outWhether you expense an item or capitalize it will depend on several factors such as if you are increasing the useful life of the item, making it ready for a different use or making it more efficient.