The client will be solely responsible for capital gains taxes, including depreciation recapture, regardless of the agreement to share proceeds.

If we rent the unit at $1,425, I have an estimated monthly cashflow of $302 (rent at $1450, cashflow is $325) I DO include vacancy, repairs, and cap exp in my Box2 Expenses.

You will need probably 20% of total cost (Not including financing costs. 80% LTC) as the down payment.

Include in your model rates going up by 2%, and just make sure you enough cash to cover. 

When managing multiple applications, it’s crucial to ensure your process is both fair and compliant with local, state, and federal housing laws, including the Fair Housing Act.A best practice to avoid any perception of bias or confusion is to process and work on one application at a time.

You should be able to do a pretty decent update with $50k (purchase price not included).

If you are going to share lease edits  brought on by local landlord tenant legislation updates make sure to include the location but I suspect edits influenced by tenant interaction will be most helpful to those who read these forums. 

I recognize there are other ways I could invest this cash (including another property) but I am being mindful of levering myself out too much in the current environment where job losses are more common in my industry (tech).

My application includes an acknowledgment that everything is true and complete.

Most won't insure pools with diving boards or ones without a VGBA drain.2) Include the cost of a pool company to manage the pool in the rent.