Specifically, I'm looking to understand:What exactly constitutes Property Accounting versus Corporate Accounting?

There are no loopholes and if you operate outside the rules you will be shut down, it is only a matter of time.You are correct, unincorporated Pinellas County versus Saint Pete have different rules. 

The problem is there are a few more considerations versus say a 4 plex or similar investment. 

But the cost to have a license roofer install it is going to be $10,000+, if I had to take a wild guess....Versus a couple hundred dollars for you to roll on the elastomeric.

There's nothing inherently different about re-leveraging a property versus a brand new mortgage. 

If they have to get in a car, they seem to not care that a drive is 25-27 minutes versus less than 5 minute drive.   

There are a lot of online sources out there versus going to the local courthouse.   

Section 8 here has a predetermined rent amount (max allowance) for each property depending on if it is a house, apartment, townhouse, etc and what utilities the landlord pays versus the tenant.

It does not list in the broker package who the "current owner" is versus the removed "operating partners". 

The conventional loan product can help eliminate sellers concerns while still keeping a low down payment.3) I would just compare your rents versus market rents.