Have the State come in every 5 years to do a thorough multi-family inspection... and when you are justifying state inspector jobs, you can expect to get dinged on something to warrant a re-inspection.

However, without being able to rent it out when not in use, it would be difficult to justify the cost.I had a few questions for you though:You mention operating expenses of $7,900.

But I'm struggling to justify the use of the HELOC. 

Now we’ll see if we can make enough during the dead months to justify STR.

So I look at property and say its $1millon but really its value is $500k, can I justify the long term hold on it.

How can you justify making poor people max out their credit cards and walk them thru defrauding credit card companies and bankrupting themselves.  

Also, justifying $500/month doesn't work unless I am managing several syndications at a time and for the time being there is only one fund.

Play appreciation, but be careful of what markets you play; The homeless population doesn’t care what it cost to live in a market, but at a certain point the rest of society cannot afford it, nor can businesses justify it.

I have a few out of state rentals and actively looking for more, but it's hard to justify paying as much as sellers are asking.

Is the price to buy justified although the rents look attractive (~1% for sure).