I am still not 100% on how it should be applied though. 

Strong demand and limited inventory are driving prices up.Perhaps in some markets but you can't apply this thought process to all, especially not the lower tier neighborhoods that have zero barriers and seemingly unlimited inventory.

Filter it and then you can apply your own view.I usually take the other side.

., furnishing, updating the deck).As for the rental days, there’s no strict minimum for the year, but the STR loophole generally applies when average guest stays are less than 7 days.

@Renee CossRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

., but that does not apply to real property transactions.  

In several California cities there is this concept of 'banked rent'; that is rent increases from past years that were not applied.

Using advice from people with more experience than you in locales that differ from you spells disaster if that all doesn't apply where you are building.   

When you apply for a refinance, the lender will order an appraisal to determine the value. 

Im pretty sure the ATI exemption will only apply if the property was previously assessed at the 6% ratio when the transfer occurred (i.e., when you bought it).