I found this odd, so I decided to call Cobb County and they advised that a basement can only be rented by one adult with some kind of square footage per person limitation, and I could not wall off the basement door.

Be careful with these transactions and get advise from a knowledgeable real estate attorney who works with these to make sure all steps are taken to property protect yourself. 

My advise would be to obtain properties in multiple markets

Most attorneys in California advise against them as they cost about $800/year, and you also have to transfer a property into your personal name before a sale, so they do not help with anonymity. 

Obtaining a $200K loan to cover the tax appears to carry a similar risk of a lien, potentially jeopardizing my mortgage approval.What would you advise in this situation?

My final piece of advise to you is based on 45+ years investing in real estate, real estate debt, and real estate securities, as well as having syndicated over 400 deals.  

additional equity allows for, for example, that HELOC - and I think a HELOC doesn't feel like debt the same way as other types of payments.and BP has made everyone feel like they're missing out if they're not buying "deals," no matter how expensive.When advising clients on cash out vs.

If you are someone who is confident in raising money looking to partner on a deal, or are an experienced investor who has some good advise in this area please reach out!  

@Michael Aguirre  if they stay more than 30 days it is advisable to have a lease agreement even for airbnb/VRBO  guests.

Please advise on good constructor in mid ColumbusNeed full rehab for ~1300 SQFT