I applied for a HELOC and when they ran the title it came up that the 8k grant is actually a second "soft" lien against my property that will go away after 5 years which prevents this bank from allowing me to have a HELOC.

@Seidy Lasker Wash sale rules apply to stock options if they are deemed "substantially identical" to a security sold at a loss within 30 days, such as options with similar expiration dates or strike prices.

.- Does the condo have an existing STVR permit or will you need to apply for it?

It's just the nature of the business.

My property is in Twentynine Palms so I can't "assume" the current license while applying for a new one. 

Insurance is expensive, there is a lot of extra maintenance like painting or electric in common areas that don't apply as much with smaller units. 

Both offer valuable tax strategies, particularly when cost segregation is applied early.

@Rae Chris Ann Arbor is pretty expensive, so difficult to find cashflowing rentals.You may want to look in Ypsilanti - if you want to stay in your area.Otherwise, Metro Detroit offers a LOT of options.Read our copy & paste below for some helpful info:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

It counteracts human nature, which is laziness, greediness, self-centeredness.

Naturally, he made a cool $1k!