So there is huge risk expecting the 15 year limit to be reality.  

Well I am a limited partner and retired on caah flow.

Current lease has size limits for both but it's time to reconsider- are size limits enough or scratch them all together?

You limit out at 10 of those loans so you can do that every year for a while but eventually you can't any longer.

I know there’s a limit of 4 unless you get a kennel license, so I’m also searching to find a place in which I can apply to obtain one.

.- Your maintenance and repairs will be mostly limited to the interior of the property as the condo management will maintain the building- You won't have to worry about tenants maintaining the grounds around the buildingCons:- Condo fees may change drastically over time and it's largely not in your control- Condo bylaws can be tough to work around.

Reporting these expenses on your personal tax return (likely Schedule C for a sole proprietor) could result in a net loss that might offset other taxable income, reducing your overall tax liability.

In each category, note how much you are bothered or stressed on a 1 to 5 scale, with 1 = not bothered at all and 5 = stressed out: Pain Points Stress1 to 5 Pain Points Stress1 to 5 Unit turnover Exterior maintenance Advertising for available units Deferred capital expenditures Tenant screening rules Plumbing or electrical emergencies Tenant selection / discrimination rules Mortgage payments Documenting move-in conditions Bookkeeping and bill paying Documenting ongoing conditions Taxes and insurance premiums Dealing with tenant complaints Risk of late payments or non-payments Dealing with neighbor complaints Risk of property damage or vandalism Mold, termites and rodents Premises liability Interior maintenance Evicting tenants If your completed table has mostly 1s and 2s, then congratulations—you are a happy landlord!

Would the federal tax liability be $140k at year 5 for the sale, with long term capital gains (ignoring any Net Investment Income Tax)?

We would greatly appreciate your guidance regarding any requirements, limitations, or recommended procedures in this context.