It also depends if you are going to do realty part time or full-time, as well as the brokerage you are affiliated with and their rules / procedures.  

You need to follow the procedures set forth in the appeals, and I would start with an accurate determination of value, and then whether or not if you think the 40k will play a significant role in reducing your taxes.  

Looks like we are going in circles and soon turn this thread into fairly recent on the same topic"Use HELOC to paydown mortgage fast" - https://www.biggerpockets.com/forums/49/topics/329...I trust @Chris May calculation and quickly running my own numbers see the same results:1) No magical secret: as amortized mortgage payment has no front-loaded interest, majority of "magic" works just by making extra monthly payments whatever the source or procedure it is.2) Using HELOC as expense account to "time" income-expense cycle only brings marginal benefits when compared to increased risk, extra bookkeeping  and complexity.

The Government does not follow normal notice procedures.

Many eviction courts have procedures.  

In such cases, if the drafter of the contract writes an unfair clause, which unreasonably benefits the maker of the contract, the court may throw it out.Especially, if they did a high-pressure sales job and kept saying, don't worry about it, it's standard procedure, blah blah.A first-time landlord investing out of state on a limited time to find a manager, and an unreasonable ability to sue that person because of having to travel to another state to do so, could very well be considered the "weaker" party to such a contract.In my ever-so-humble opinion. :-)But, hey, this is why there are two lawyers in a courtroom, right?

Just as I have the ability to enter my tenant's homes whenever I want as I have the keys but again, why would I without the proper procedures.

And in many states, evicting a tenant without going through proper procedures can get you in a lot of hot water.  

Government at its finest.

Saying you have qualifying discounts is fine, stating them without full disclosure can end looking like bait and switch if they don't qualify.Next issue, I suggest you not give any cash rebate or discount that changes the net rent, especially in lower income situations.