The current owner has to dig the floor out and replace the floor to meet spec.  

Property owners get an annual update on their SEV & Taxable Values with their city property tax bill, typically sent in December.So now, the city assessor tracks the SEV, but homeowners are taxed based upon the capped Taxable Value.

For property owners in this area, what have you seen in terms of supply and demand. 

Most properties are remotely managed by owners/PMs and what was suggested would be an impossible and unrealistic standard to set - much less enforce. 

Personally I prefer homes around that median price because that's where the most demand will be not only for owner occupants but renters as well.

It’s in pretty good shape at this point, rentable.I travel a lot for work, and a friend gave me the idea to do a short term rental as a one bedroom, locking all of my stuff in the other bedroom and office - I applied today and was denied because I don’t own both sides of my HPR, even though I have written permission from the owner of the other half….

Mordechai ChaimovitzTwo-unit owner-occupied falls into an odd category, really any 2-4 unit with a nice owner's unit for that matter.

If it is less than 30 days, the owner can kick someone out for failing to pay or obey the rules.

Or tenants know they are the owner and take advantage of that. 

The #1 reason that landlords fail is due to failure to manage to the lease (Source: American Apartment Owners' Assn).