In addition, painting, flooring, and appliances are often required.

You can always add on additional financing to pay off some debt if needed.If you close it without the exchange, you'll be using proceed money to pay taxes that could be used to pay down the debt you mentioned.  

I don’t really want to setup a multi member partnership LLC if I don’t have to because of the additional cost and paperwork.

In addition, the nozzle can detach with enough force to pose an impact hazard.

There are additional costs up front in purchasing and you must hold back reserve funds to insure you have the cash for emergency repairs. 

It prob wouldn't count as an additional unit as far as value goes but could work to help to pay the bills and may not trigger any red flags.

You need to figure that in. in addition the tenant you have will influence the tenants you get.

the Underwriter will ask this question to make sure you're not accumulating investment properties through initial OO interest rates. 3) Lastly, if the property is within the same neighborhood or nearby your current residence, you will asked by the Underwriter to justify that the additional purchase is the same area is not an investment property, this one is easy, just make sure you're either buying a larger property and say your family is growing, or if you're buying a smaller property than what you currently live in just say you're downsizing to a smaller home and they'll be satisfied with either answer.

These are professionals with additional training and a stricter code of ethics.

I also ran it by one of my real estate advisers and he reviewed the pro-forma's and said that everything meets their criteria, which gives me additional confidence.