They should direct you 

I have my numbers below for help with this scenarioPurchase Price: 334k - CashConstruction Improvements: 150k - Using HELOC funds against current primary house and Rental PropertiesConservative Market Value after Renovations: $550k (Smaller House across the street just sold off market for 610k)Will there be a new apppraisal when I go to apply for a mortgage or do they take the purchase price of the property?

Common areas don't apply.

Here you go: https://www.biggerpockets.com/forums/432/topics/727277-here-it-is-my-personal-direct-mail-letter

Does this rule of thumb apply as a yearly or monthly payment?

Could you point me in the right direction on finding one?

This answer applies to Philadelphia, DC, Pittsburgh ... lots of cities with shades of similar problems.West side for example Poppleton has 51% poverty rate like Kensington in Philadelphia.

Seems like the tide of STR regulation in Colorado is in the direction of restriction not permission.

This always applies UNLESS the city tears one down to expand a highway (ie, 290).

We even tried FEMA but no luck.We have a litigation attorney we are retaining who deals directly with tenant/landlord issues.