Once at least one spouse qualifies as a real estate professional, the couple's rental real property activities are no longer per se passive and the activities are examined for material participation using the collective participation of both spouses.Example.Bob and Sally Smith are both lawyers, each owning a one-half interest in the Smith Law Firm where they both work approximately 800 hours per year.

I say this as a rental loan expert that knows, you would not need to ask these questions if you either had the correct loan or you knew what loan type you are using because the correct loan type would make these questions unnecessary, and if don't know the answer to these questions you need to re-examine your plan.Lastly, unrelated to the loan.  

After, my own personal examination I will decide rather I would like to move on with the process and get the property appraised.Crime maps on various sites (trulia, for example).Haven’t looked at the crime rate just yet because I just started to research the area.

I'd tell them this is Bill, that I owned xyz mortgage company, I'd ask them some ice breaker question about their bank or people mixing in my experience as a bank examiner.

But it seems like you examined the HELOC method...that's what most people do.  

Therefore, it is important to do your homework and examine all of the potential fees and expenses that will impact the overall return on your investment.

Aloha,You need to examine your project's Declaration.

You can hire a title examiner to examine whatever title you want.

Next you should have someone with the needed expertise (contractor, engineer, architect) examine the house to see how it could be divided - depending on how the house is built, you can end-up with some strange layouts when you start sub-dividing a house.Should I split this SFH into multiple units?

The normal penalty that I have seen if you are sued is that they serve the Secretary of State instead of you, as you have no registered agent in that state to accept service, and you are not allowed to admit evidence in a case, but you can can cross examine, until you do register.