FinCEN won't apply if the LLC was not formed.

Another change in the Ordinance applied to properties that have been renting WITHOUT a valid/issued VHR Permit.

Really, I would try to stick with your same strategy and just apply up here. 

The intent is to cut down on the cost of applying for rentals, particularly for renters that have to apply more than once in a competitive market.Do you support this?

If I applied to the Section 8 program, what are the pros and cons?

If you are a Real Estate Professional this cap does not apply and hence why it is such a powerful status for tax planning.As @John Underwood said, Schedule C income categorized by "substantial services" such as turn down services, meals prepared, or special activities provided.

Usually the Veteran is using the "Change of Life" circumstance which means they are moving out of state, closer to work, school, or moving into a bigger home for increased family, out of a multifamily into a SFR, it also applies to retirees or disabilty if moving out of a larger home and into a smaller one due to up keep or mibility.Most VA loans have an assumption clause as well.

Save that and apply it at the sale or refi when the balloon comes due.

However, there are some restrictions that apply, you'll want to look for details on "bonus entitlement."

Are you aware of the rent control laws in Los Angeles (and yes, some apply to condos).3.