If you do not understand how NOI and cap rate determine value, learn it even if in theory it only applies to commercial RE.If you flip, you realize the gain in the short term.  

I agree with your assessment, and would apply your advice more broadly to all condos in the US. 

This disclosure requirement applies on or after July 1, 2024.

It is true that does not apply to investment property, but what happened was that first time home buyers that did not qualify for a home loan were trying to circumvent that Dodd Frank rule by saying "oh, this is a rental property" (wink wink) and then move into it...basically creating a no-income verification loan.

That being said, income limits will also apply when exploring the USDA loans. 

@Mike Liu there's always a tradeoff between risk & reward.If you want higher cashflow, you'll need to get into riskier investments.STRs are riskier than LTR due to: saturation, changing local government regulations, more intense time required, etc..Regarding LTR higher cashflow:If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Only single-family homes can apply for permits.

Don't get me wrong, I value the learning, I'm not looking to cut corners...I just want direct apply to real world strategy with no upselling involved.

Is it too late to apply to them?

You're correct that your Nevada LLC, created in 2016, would not need to be filed with FINCEN under the Corporate Transparency Act, as this requirement applies to entities formed after January 1, 2021.