There was already the tentative possibility of moving out of it altogether which sounds like would be beneficial in order for it to qualify as >50% business use.  

Sounds like you have a lot to contribute here!

Sounds like a solid deal to me. 

It's not going to cost you 10x the price to replace the HVAC in SF, than it will to replace it in OK.  

I'm interested in learning a bit more about typical vacancy percentages, size of the local population being serviced, reasonable percentage of effective gross income for expenses, etc. as well Peter.Hopefully some experienced member(s) will sound off!

I haven't been expanding my business with LMHA since the end of 2016 per my posts above so I don't know exactly what changed, but I expect the outsourcing of inspections to private industry + some executive level leadership + replacement of staff with new faces excited to serve the needs of HUD/Landlords/Those In Need has resulted in an agency I will develop more business with.The HCVP will always be a double edged sword for landlords (See Section 8 Bible discussion) but for now I have discovered it is finally worth the effort to participate in the program.I specialize in Toledo's transition neighborhoods, discounted houses on the edge of nicer areas but also on the edge of trash...the Section 8 program allows me to get long-term tenants who are a good business model provided they are consistently managed and visited/inspected for additional "visitors" (relatives and random dogs/cats) and damage/housekeeping which can destroy a home if left unchecked.You need to know the rules, repair and renovate for long-term durability, prepare for inspections thoroughly and keep a team of contractors who will hold those standards...after 8 years we have been through a hundred inspections.

Sounds like a challenging but rewarding project!

It sounds like you are already doing move-ins perfectly with photo evidence and proper documentation.

My AC unit has another 3-5 years before it’ll need to be replaced so I’m thinking this may be a clean exit before large big ticket items start needing attention in the next 5 years.

Don’t waste time with someone with unrealistic expectations; you won’t make the deal and just set up the client to get realistic for the intermediary that replace you. 5.