Some rehab lenders have favorable refinancing programs to convert the rehab loan to permanent 30 year financing.

Here is some info: SF STR FAQAssuming the info is up-to-date, it must be your permanent residence (you must live at the property for a minimum 275 days a year), you can rent unhosted a max of 90 nights a year, you need a business license, and you need to pay the city $925 for a STR certificate.

It's just water, if it was taken care of it is not a permanent problem.Did you have an inspection?

I should also note that the project would be ground up and the FHA loan would be a one-close construction to a permanent mortgage 

@Kevin Wood: For those temporary and permanent differences accounts, move them to Other Income and/or Other Expenses and see if you the reports works for you. 

Non-tangible property includes buildings, land or other inherently permanent structures.I get a lot of questions on which group specific assets belong in, so I put together a list to help.Non-Tangible PropertyBuilding (27.5 or 39 Year Useful Life)Land (Non-Depreciable)Paved Parking Areas (15 Year useful life)Swimming Pools (15 Year useful life)Fences (15 year useful life)Bridges (15 year useful life)Exterior Landscaping (15 year useful life)Docks (15 year useful life)Sidewalks (15 year useful life)Tangible Personal PropertyMillwork or decorative trimCarpetAir Conditioning equipmentShelving, cabinets and display racksAccordion doors and partitionsWall coveringsInterior landscapingNeon or other signsDecorative and business specific activity light fixturesGenerators, machinery and kitchen equipmentWindow treatmentsWhat other questions do you have regarding cost segregation?

A permanent fix rather than just a bandaid. 

Make sure you account for all of your interest load if youre using a Heloc for permanent financing as you suggest.

This may be to deliberately prevent discovery of other electrical issues or prevent fire/injury.You will need some form of hard money or construction financing to purchase the property as is, and you will need to get the property occupant-ready to pass an appraisal before permanent financing is on the table.

The regulation was ruled illegal and a permanent injunction was issued.