I don't think it's warranted and that it's implied that the property management will keep taking applications until the first qualified tenant finishes.What are your thoughts and experiences?

We continue to own both condos, and have rented them out - so this is a 100% tenant-occupied, 100% of units owned by one entity - hence non-warrantable building.When we first bought the property, we financed it as a 2-unit building, and the note holder had allowed the condo conversion to go through, adding a "condo-rider" to the existing note, which now encumbers both the condo parcels.I'm looking to refinance this loan to a fixed rate (it is an ARM that I should've refinanced to a fixed, but didn't) - would anyone know what my options are ?

I used to live in Seattle and saw it first hand; some of the measures are warranted.

Someone like that might have warrants...get the cops to run them and take them away. 

Could be as simple as a bench warrant for missed court date for a traffic ticket .

It all might be worth it to spend a little more money, rather than collecting it, for us to just hire someone go out of state to arrest them for their outstanding Texas warrants for contempt of court. 

Unfair is when a local housing inspector does a "drive by condemnation" without cause, warrant, or even entry.

I am doing my pro forma conservatively such that the rates will not decrease enough to warrant a refi soon.  

That's the CIC I am referring to, not NCIC.Fortunately for me, they have returned information on reports we have requested on applicants that have active warrants, felony criminal history, or a sex offender.

Intangible rights to the asset may be another story...https://www.sec.gov/about/laws/sa33.pdf(1) The term ‘‘security’’ means any note, stock, treasury stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a ‘‘security’’, or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.