Therefore, your asset is not In Service and De Minimus Safe Harbor would not apply.3.)

I’ll try to get reimbursement for expenses since taking this down another road by going to court for specific performance and forcing the sale of the house would likely leave them in bankruptcy.first rule of law you dont Sue people who have no assets or equity  LOL

Asset is an average performer, not much to improve. better use of your time to start thinking about how to buy the next one better.

@Mary Ann CaseyYou could put it all under 1 Umbrella Policy, but I think you would be violating the IRA rules with commingling your personal finances with your IRA...but I am no IRA expert.The maximum # of Umbrella policies would be 2.  1 covering all of the assets in the IRA Second going over your personal home and auto, along with all of the rentals.

@Ken Dillard You will obviously get better terms if the bank has more assets to go after if you default.

@Akeem Wheatley The subject has been beat to death on BP.https://www.biggerpockets.com/forums/519/topics/24...It boils down to this...If you can put your money into an asset growing at 6-8% and you can get an immediate line of credit against that asset at 4.5% (prime), then anything you can do with that borrowed money that earns more than 4.5% will be adding value on top of the original asset.

@Stephen R.Why don’t you resyndicate the asset, or put tax credits back on it, pull out a developer fee and then cash flow. 

Not having experience with Section 8 I cannot say with certainty that you would not pass muster with this property, however if the housing authority does do their due diligence on a property I suspect that any shortcomings will quickly become apparent and would likely sink your chances of qualifying that property for Section 8.

In short, here is the way it would work for you:  The line of credit would be about 5X your current liquid assets. 

@James Wiltz You can try assets based lending.