This is a guide I created for steps after the closing - but it may also shed some guidance on proceeding in that direction."

As we desire to create lasting wealth for our families, and develop great places for people to live.

The after-repair value (ARV) of the property is estimated at $260K, which could net a profit of $15-17K after selling expenses.At the sale price of 260K, the property meets the one percent rule and features a brick exterior, new roof, 2 new bathrooms, and 1 new kitchen. 

The email mentions that participation in the ULA ERAP does not create a tenancy with the City of Los Angeles or the Housing Rights Center (HRC).1) I am actually planning to subdivide my lot and build a few more houses on the divided lot.

As you note, each jurisdiction may have some nuanced rules.  

Thank you, the guidance is confusing in that it states you can still treat real estate as a trade or business if it does not meet the 4 bullet points for safe harbor.In my HR Block tax software there are two QBI options for rentals:  1) Treat rental under safe harbor rules or 2) This rental is eligible for QBI without safe harbor. 

Our rule for using our heloc is only if we can pay it back/off in 1 year.

Also, check the sale documents and know that federal tax liens have different rules than state ones.

The fact that you created this thread is awesome.

I then stumble upon real estate and fell in love with the concept of how it can create wealth over time(the BRRRInvesting).