I own 1 profitable rental property and I am retired, keep separate records on my rental property.According to IRS guidance it states:  "If an interest in real estate fails to satisfy all the requirements of the safe harbor, it may still be treated as a trade or business for purposes of the section 199A deduction if it otherwise meets the definition of a trade or business in the section 199A regulations."

But also note there is a wrinkle in that if investing in Las Vegas, the state of Nevada is the rare state with pretty strict regulations and licensing requirements for DSCR, so a lot of national platforms don't lend DSCR in Nevada. 

It is always a good idea to call the city before purchasing a burned home to inquire about the necessary permits and regulations for renovation.

I also avoid highly regulated cities like Seattle. 

What the regulators care about is intent. 

If propane are there any HOA/zoning regulations that prohibit or restrict those tanks, especially above ground. 

You also twisted the example from the Regulations.

While private money isn't highly regulated at the federal level, there are subtle nuances to be aware of in each state that may trigger your loan becoming a security and then the SEC would have regulations to consider.

Sadly this was shut down when Gene died and they couldn't find a replacement. 

Some mortgage lenders and local regulations may require you to have landlord insurance once you convert your property into a full rental.