A cost segregation study looks at the overall building that you purchased and breaks it down as much as possible.The purpose of this is to increase the depreciation expense.Without a cost segregation study, you are depreciating the property over two items(Building and Land).However, a cost segregation study might identify items such as fencing which might be eligible to be depreciated over 15 years instead of 27.5 years.Depending on the year that the building was placed into service, you might be able to take bonus depreciation on certain items.The follow-up question to ask your CPA is will the cost segregation study help me, and by how much?

The shorter the prepayment term has an impact on increasing the rate.4.

Call elec to verify that can increase capacity to withstand your development.3.a. - Know what the county likes.

There is no insurance that covers an increase in HOA assessments. 

The shorter the prepayment term has an impact on increasing the rate.4.

@Kenneth Johnson, as eager as you are to get started, the best thing you can do it increase your earnings.  

Would you prefer they change their policies just to fill your rental quicker and then increase your risk of losses?

We can likely agree that the market has been "increasing" steadily over the past decade.And as a last ditch strategy, ask the Buyer to work with a different lender (I'll do their loan if they want) and the new lender will order their own appraisal.

I do not plan on paying interest on the HELOC for more than 2-3 months, so I guess the better question is will my portfolio benefit from acquiring a 4th property by leveraging a cash flowing LTR and therefore increasing the interest rate and lowering the cash flow on that property?

See if they might be willing to increase their offer slightly or cover some closing costs.