@Brian GerlachMarriage is just the loop hole.If you're on title with anyone, a partner, your lovely bride, your brother or your cousin that can fix things AND THAT PROPERTY IS FINANCED, it counts against your 10 conventional limit because that property is encumbered and you own it.Now, if that property doesn't show up on your taxes because your partner claims it or if that property is owned in an LLC and is encumbered by a commercial loan, that's a different story. 

Many people have taken the property and mortgage personally the quit claim deed to the LLC.

They are claiming significant income but I have no company to call other than the applicant herself.

The guy is in the Air Force and is pending a medical discharge.

C-Corp should only be if you plan on taking your business public or if you have major medical issues (I don't remember all the reasoning behind that seeing as it didn't pertain to me).

And when lower income tenants have a backlog of thousands of $$s, I guarantee you that recovering that in small claims court, which is what this ordinance forces, will be fruitless for many landlords.

This helps with any liability claim, and payment, to you.

I think one thing that helps us tremendously is that we have a checklist that we use with our clients that covers all of the items that should be in the house therefore reducing the possibility of having things stolen and not filing claims.

Is it quick-claimed to me by the seller? 

(aka the "happiness factor") - As I understand it, a second home loan is possible at 10% down as long as I use the unit at least 14 days a year, I can claim the income, but I cannot use the income potential to qualify for the loan?