I looks like the former, based on the following definition --"The term placed in service means the time that property is first placed by the taxpayer in a condition or state of readiness and availability for a specifically assigned function, whether for use in a trade or business, for the production of income, in a tax-exempt activity, or in a personal activity."

Which ones just try to sell you on a coaching program? 

It opens up some doors and I think the cost with some online programs is not outrageous.

Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function.

There may be community lending programs available depending on the location of the property as well. 

But for figuring out their income ratio, the Section 8 program will pay for a percentage of the rent, typically 70%. 

@Cole Davis, we recently started a program for a broader scope of borrowers and sponsors.  

Hey BP,I was listening to a podcast the other day and it wasn't the BP podcast (I know how dare I) and they was talking about the EB-5 immigrant investor program.

And, I looked and we're not within the limits of the ADU pilot program unfortunately.Thanks for all the help!

@Hitanshu Shah-congrats...assuming the 4 plex will be a rental - your best bet will be 25% down and likely a 30 yr fixed program ....if you plan to sell or refinance  the loan within a few yrs - focus on the option  with the lowest loan fees