Solution: one of the partners will review the diligence sheets thoroughly & spot check them, particularly as it pertains to outstanding bills with the town/city. 2.

Get ready to learn  the good, the bad, and the ugly about depreciation as it pertains to your question. 

We cannot vet the rents, expenses, taxes, essentially everything pertaining to the deal.

So this issue is pertaining to my parents house, which they've owned now for over 20 years. 

It's mostly pertaining to the active/passive framework of a General Partner who's contributed capital, and following that, the distributions of the cash-out refinance.I bought a 10 unit (my first commercial purchase) and as I'm set to close on refinance, I'm realizing my current attorney and CPA were unfortunately not well equipped to manage the nuances of the partnership for the deal. 

I'm guessing maybe I can separate out the period of LTR and STR for income but does that also pertain to the tests?

I HIGHLY recommend you talk to @Stephanie McFarlane pertaining to investing and the midterm rental space. 

I am interested in updating our underwriting guidelines on MHPs where it pertains to the inevitable mixed-use asset classes that can often be found on one APN.

Written by attorney investors, it's full of practical advice pertaining to management of investment property, has sample forms that can be edited, and - most importantly - they tell you what your primary state laws are and where you can read them.

I am interested in updating our underwriting guidelines on MHPs where it pertains to the inevitable mixed-use looking park.