If you are reluctant to open a separate bank account, you should at least separately record the security deposit in your financial statement and label it as a restricted cash and keep the record of incoming wire or check. 

My question is, before I spend the money to make any changes, how do I find out whether these can legally be considered bedrooms - ie proper ceiling height, size, etc.   

My only concern was that the Va has some restrictions to rental properties.This is where I came across the Interest Rate Reduction Refinance Loan (IRRRL).

What I found interesting is the ban on demolition of single family for transformation into multifamily, as well as a restriction on structure size increase at 15% I understand that this is to help preserve neighborhood character, but seem that it may encourage “slumlord-style” splitting of single family homes.

The Heights is slowing down and is inundated with new builds, so I might consider selling.

This would leave him with 75% ownership and me with 25% ownership in the LLC that now owns and interest in the syndication restricted to accredited investors that I wanted to purchase but would not be able to since I could not be verified on my own.I believe if my Dad and I formed the LLC together to start we would not be able to purchase the units in the syndication as 506(c) requires verification of all members in the LLC at the time of purchase.My first thought is that this strategy wouldn't technically be allowed under the law because it is basically the same thing as the example right above but how would anyone ever really find out if my dad later sold me shares in his LLC? 

Do they have the proper insurance, are there any big assessments looming, is there a restriction on the number of non owner occupied units, etc?

Rezoning to R-1C would have no maximum coverage restriction.   

Hi Laura,I personally prefer to live in house with no trees blocking it's view from the front yard, but a lot of people (as you can see from the posts) like trees in the yard (some like the house almost totally obfuscated and will plant even more).So if it were mine, I'd leave the trees for that reason, and just darken the shutters to a dark chocolate color, leave the paint as is (if it's in average condition), leave the fake well because it seems to match the structure and not detract from it (if new owners don't like it they can remove it easily) and take the shrubs down to foundation height to make the house look bigger.But if I were living there myself, those trees would be firewood for that fireplace (something your Realtor could point out to prospective buyers).

If you so choose to pay off the line of credit, there is no restrictions on how much you can put in as lump sum or how fast you can pay it down.