You still of course will need to have a firm grasp on your policies and procedures, but it makes implementing them ever so much easier.

Spend an hour with your CPA so you setup a tax procedure and to maximize your tax savings.

If one mortgage foreclosed, and the other mortgage was not involved in the proceedings, the surplus goes back to the homeowner.I got in a heated discussion last week with the paralegal of a large law firm that handles a lot of foreclosures in my area and I was not happy with what she described as "normal" procedures for her office.

They all have their different programs, policies, and procedures.

. - usually eviction procedures follow a specific timeline and flow, specific to your state regulations.

When a hypothetical comes up, you should think about the situation, consider the best way to respond, and then develop policies and procedures to deal with it when it does happen.I use a "Remove Tenant Addendum" and require all Tenants to fill it out and sign it.

Did the HOA follow proper procedures when enacting the cap?

I would spend your time learning how to manage, developing policies and procedures for managing and handling problems, and preparing for the growth to come.

You should find a local lender or mortgage broker in your area that you can trust and start learning about the procedures and requirements for this sort of loan. 

This is standard procedure.