You are already admitting the items are not refuse in that you state they don't have room for the stuff in their unit meaning their intention is to keep these things not dispose of them.

Since the borrower had already signed on for $3 million, this was not an increase to make a deal happen, simply Peerstreet personal operating without any understanding of the loan industry and having no intent to listen to the consultant they hired and paid for.Anyway, Peerstreet made the $4.8 million loan, less than one year later it was in default.  

Conclusion: intentions matter.

You want to milk bonus depreciation and STR loophole, with no intention to operate it as an STR after a brief period.I'm certain that it does go against the intention of the law, as discussed in my post linked  earlier.

I completely renovated the building with no intention of selling.

Since I never received a copy of this notice, I was unaware of the address change or that the tenant assigned her security deposit claim rights to the LLC.Within 30 days of tenant moving out of the property, I sent her a notice of intention to impose a claim on security deposit, via certified mail, to the tenant's last known address since I was unaware of the address change notice.

I found the county criteria which reads as:"Property must be minimum of 1 acre, meet the underlying zone district, have adequate parking, meet the requirements set for by the Wildfire Hazard Overlay District, have valid water and sanitation, have legal access, use the primary dwelling unit, be free of violations, and have no substantial detriment to the intent of the Zoning Resolution."

If you are going under contract you should have the ability to close, even if you don't possess the intent.

I realize that once someone creates a letter of intent they can start on the due diligence phase to learn the financials, physical, and legal but what else can I learn about a property before making an offer? 

There wasn't a firm decision that he made at that point in time, hence things were undecided and unsettled. and not at any point in time, Tenant sent a written letter of move out intent/notice until recently, mid-August '24, when I got the first written "move out notice" from him via "email" that he ll vacate the house on Sept 01 and that the payment will be left on the counter.