For various reasons, the US government wants to understand the "beneficial ownership" of certain businesses.

Supplement this far simpler entity approach by ensuring you have appropriate types and levels of insurance, you operate your business in a manner in which your conduct is not considered an exclusion in your policy, you work with licensed and insured vendors, you execute contracts with indemnification clauses with these same vendors/ require additional insured status &  maintain appropriate licensing and permits.

I understand the policy is to email permitting for updates but after 13 months of permits, 19 months after I sent in $36,000,  I think I've earned another quick phone call.  

Trying to read between the lines it sounds like you have a regular owner occupied homeowners policy in place on a rental property. 

Any other government agency?

When valuing the property, focus on its net operating income (NOI) and use a cap rate that reflects Section 8’s stable, government-backed rents.

I’m still learning the ropes of property management, so I really appreciate the opportunity to exchange ideas.At our property, we have a structured screening policy influenced by the Federal Fair Housing Act since our location falls under its scope.

One other market-wide factor I’d throw in is local government policies.

You want this to be your backup plan if things take longer than anticipated, you do not want to dip into personal credit cards so i would use a heloc to help with down payment but try to keep a nice available balance on a heloc as your insurance policy. 

But somebody could use a credit card fund the immediate need and then pay it back with the policy loan fairly quickly.