I'll add on to what the other Ben said and mention that there are exceptions based on the # of days that you rent out your home to where the income/expenses are excludable (being lesser of 14 days or 10% of total usage if under 140 personal use days).

Since I'm throwing away everything in the house, except a few pieces furniture that are not damaged, do I still need to treat the bedbugs?

EXCEPT.

Do not communicate with the tenants except as advised by the attorney.

At one point I talked to my financially advisor and he said that it would be smart for me to open a HELOC on the property, but not draw from it, except in the case of emergencies.  

The only exception is for handyman doing work under $500.

Sapphire is much more of a vacation home community.The deciding factor for me was that Sapphire and Cashiers don't have a lot to do, except for golf and hiking.

Because I don't see any exceptions in it for those people who want to get out, who want to just sell and run.

Those agents who are helping their clients finding a tenant are easier to talk to and my become your advocate.Here is a huge exception.   

Each lender can use their own methods of qualification on commercial properties, and most look mostly at the asset (with the exception of your FICO, experience level and reserves).