She attempted to use the voucher on the unit, without any other modifications to the rental agreement or total rent paid and, allegedly, after some very unkind words about her worth as an individual receiving a subsidy from the gov't, was told no.

As a property manager, we don't allow tenants to make any modifications to any rental properties.

That's why a stable base income is vital to an agents longevity.

As to the compliance, yes a refinance or modification is a new note. 

Time that is vital in you learning how to be a landlord and money that you could have used to finance another deal. *** Regarding your question about 1031- If you have an FHA loan on the property you CANNOT roll the profit into any other home.

I doubt any modification will meet his expectations.  

I just wanted to share that taking the RE course, and now going through training at my new brokerage, I am learning so much vital information to the whole real estate transaction, and the industry as a whole.

Our main model is to keep people in their homes and do loan modifications.

Modification can be enforced at eviction.

For SFR asking under $300k, I would estimate 8 out of 10 properties I see have obvious additions or modifications that were done poorly (and with no permits).So if relocating isn't an option, and if spending more isn't an option, I think Nat is on the right path here.