In what state such regulation or law exists?

This has not occurred and as such I will now have second thoughts before doing any further expensive upgrades for an existing tenant.

We just get an appraisal done for the rate/term refi and if there is extra cash there we modify our existing loan for what ever the max LTV is for the take out loan.

Lake County is coming down in price with interest rates rising - especially existing builds (not new builds).

It seems like you have a fantastic chance to maximize the space in your existing house so that you can earn rental revenue.

I've seen first hand how during the 2020 NorCal wildfire season and the 2021 Pacific Heat Dome (when temps reached 116 degrees) how people and pets flocked to the Oregon Coast for relief that was 30-40 degrees cooler. 

@Guillermo Kennedy, it's certainly possible to use the existing LLC as a joint venture entity; the legally binding agreement here would be amending the existing operating agreement and updating the current cap table to reflect the new members of the joint venture.

The problem was either the tenant or deferred maintenance.In many cases, the existing rent has not kept pace with market rents.

The girfriend has not admitted that the new boyfriend has moved in, but it does appear a new lease is required instead of simply a renewal of existing lease. 

pre existing partnership on another commercial property How did you find this deal and how did you negotiate it?