For example, can the bank tell us, “you need to occupy whichever apartment you can make available first.”

Hopefully you do have a mortgage or deed of trust (which ever is used in your area) filed at the county courthouse showing your loan.If they declare bankruptcy it can affect your ability to recover your money.Are you willing to consider the $110K a gift?

There can be state parameters but the rule is that whichever is more strict prevails.

Best bet is to contact the local municipality - Town, Village, or City - whichever is appropriate for the location of the property.  

I would like to discuss the balance of being an agent-investor, or investor-agent (whichever way you identify).  

Taxpayers become completely ineligible when they pass $80,000 and $165,000 respectively.Deductions in 2018Single taxpayers and married couples filing separately get a standard deduction of $6,500 in 2018, up from $6,350 in 2017.The standard deduction is $13,000 for married couples filing jointly, up from $12,700 in the prior year; and for heads of households, the standard deduction is $9,550, up from $9,350 in 2017.The standard deduction for a taxpayer who can be claimed as a dependent by another taxpayer is a maximum of whichever figure is greater: $1,050 or $350 plus the dependent’s earned income.The additional standard deduction for the aged and blind is $1,300.

I went to check out how much the fee was and it said 3% or $75, whichever is less.

The max amount that you may take as a 401k loan is generally 50% of your vested account balance, or $50,000, whichever is less.

First, (I won't load you up with questions) your equity established for financing will be based on cots of construction and land or the appraised value, which ever is less, so your opinion as to equity may not be accurate.

Figure adjusted basis on the first day ofthe 24-month period or the first day of your holding period,whichever is later.