I'm curious how you handle situations where a guest wants to modify their reservation and leave early?

At this stage, I’m planning to rely on the lender’s appraisal, though I’m concerned it may come in just above the asking price rather than capturing the property’s full potential.Has anyone encountered a similar situation?

Let me be clear, I'm not the wife in this situation.

Suspended Passive Activity Losses) above so it doesn't work for your situation. ...

This is where good tax planning really pays off—not only can it help you maximize these benefits and reduce your tax bill, but it can also help determine if paying for cost segregation is even worth it for your individual tax situation.

I am a big advocate of home ownership, but in the situation you are describing (not knowing how soon you would leave), it might not make the most sense to buy a condo with restrictions or potential assessments in the future.

I am considering converting the basement by installing an egress window, which would cost around $7,000, and adding wired smoke alarms.

You can at least see if that helps your situation. 

My goal is a win-win situation, and it's basically for him to do owner financing and rent. 

@Vito DiIenna I'm now in a similar situation as you are, how did you go about obtaining the necessary documentation ?