The loan officer told me to come in the day after settlement to apply.

If you violate any of these rules you could blow up your IRA or 401k and the IRS could force you to distribute all of the assets in the IRA or 401k.

Any tips and recommendations are appreciated.

What attracts you to it, just the price?

We loved the old charm of the building.

The combined transactional costs alone between the purchase and sale are going to be north of 10% of the transaction value.

I did not want to sell it, and I saw the value in holding on to this property.

Labor shortages have hit that industry just like everything else, so finding reliable, trustworthy, quality cleaners is a challenge everyone is facing.

Sounds like a lot of moving parts and hoops for the amount of tax savings, but that's just my risk/reward profile speaking.

But you could say something along the lines of this in your lease;"If the monthly gas bill exceeds $X or the water bill exceeds $Y, the tenant will reimburse the landlord for the difference as an additional charge."