But take a look at the words before and after "between" in Sections 4975(c)(1)(A - C) that you posted above. 

The thing is wasps are quite common in Denver and when leasing the property I specifically elected not to pay for any sort of regular Pest control for insects and bugs, such as Orkin, etc. 

One just need read the law for a very easy understandingThe preceding sentence shall not apply to any foreign taxes described in subsection (a)(3) or to any taxes described in paragraph (1) and (2) of subsection (a) which are paid or accrued in carrying on a trade or business or an activity described in section 212.And then the reference from the above law to IRS Code 212(1) It has been paid or incurred by the taxpayer during the taxable year (i) for the production or collection of income which, if and when realized, will be required to be included in income for Federal income tax purposes, or (ii) for the management, conservation, or maintenance of property held for the production of such income, or (iii) in connection with the determination, collection, or refund of any tax; and(2) It is an ordinary and necessary expense for any of the purposes stated in subparagraph (1) of this paragraph.And for even simplified version, just look at the IRS guidance on the subject...What Deductions Can I Take as an Owner of Rental Property?

Technical answer: because a sink involves plumbing, including a trap which can leak sewer gassesReal answer: Because the city are greedy, in addition to incompetant.    

Maybe you could write a post on how we all can fall into the trap of rationalizing why our deals make sense to ourselves.

The text of the proposed House Bill regarding accredited investors is: "any natural person the Commission determines, by regulation, to have demonstrable education or job experience to qualify such person as having professional knowledge of a subject related to a particular investment, and whose education or job experience is verified by the Financial Industry Regulatory Authority or an equivalent self-regulatory organization (as defined in section 3(a)(26) of the Securities Exchange Act of 1934)"The last part is of most use, but whats an equivalent self-regulatory agency?

and what is your exit strategy if after all the screening you got trapped with a bad tetant ?

Escaping the self Employment Trap - Victor ChengThe ideal team player - great for when you need to start hiring to grow your business Books often recommended by othersThe E mythThink and Grow RichRich Dad Poor DadMillionaire real estate Investor by Gary Keller

(was an ambitious college sophomore studying finance in '09 when all hell broke loose) and am wary of trapped capital, I recognize the merits of having exposure to a less volatile asset class.

There are as many traps as there are opportunities, if not more.