Not your debts or your income or your DTI or your reserves or the extra guidelines and underwriting and overlays that that a residential mortgage company can have Do you require a personal guarantee? 

It is debt you are obligating yourself to and lenders and the federal government think of it that way.Missing a payment doesn't mess up your credit, but it does mess up your day when you get sued or prosecuted. 

According to our understanding:1) California does not recognize REP status, but we could claim it on our federal taxes, is this correct ?

THAT is why the federal government gave out tax credits for people to develop solar systems--commercial and private. 

If you don’t have a certain amount of funds set aside for these situations as well as your portion of closing costs and some extra reserves for once you close then you’re likely not financially ready to be buying things.

“Our manager will reserve the right to reject any share repurchase request for any reason or no reason or to amend or terminate the share redemption program,” the company said.

6) Finding a lease that complies with all federal, state and local requirements7) Figuring out how to accept rental payments - most Class A tenants won't want to mail you a check.

Depending on where you are getting them out could take more time than works for you and your expenses and eats up your reserves.  

*Keep a healthy reserve available to handle surprises when they occur.

The letter goes like this:  By the way we have underfunded our reserves, so we need $5000 from each condo owner by July 1st, in order to replace the roofs....