Am I required by law/regulations to have a working porch light?

Such increased values are not taken by insured lenders.I can't change what the rules are, lower of cost or market, 12 months in RE valuations (marketable assets are different, they go at current book value, a horse of a different color, but I'd also say in reality, that any security that jumped in a very short period to double it's value probably wouldn't be taken at current book as collateral as it would be considered a very volatile security).The rules and regulations as well as definitions are what they are, opinions won't change them, I didn't make this stuff up, they have been effective for decades longer than I've been in business.As I mentioned, there are folks on BP who disagree, some for the opportunity to disagree, some to validate what they do, some have other motives, but it is what it is, you'll do better my understand the how valuations are treated.Point made on accounting matters, we are getting off topic in David's success story as the topic. :)

The regulations were very stringent though, but I went through a large brokerage firm.

That's the case at the federal level.I also gave feedback to the proposed rulings, for more lax regulation, but you don't see me claiming I impacted any decision, I'm sure the CFPB got an ear full.

depending I your state regulations and MLS rules, this could work.

I would essentially be the "property manager" of the tenants, however, for obvious reasons, I would not be able to respond to emergency maintenance, and I doubt tenants would appreciate their plumbing in need of repair for weeks at a time.

I know there have been the new regulations implemented this year, but is it a general rule that you (as an investor) need to have 30% down?

Mortgage Brokers were just handed a whole new batch of regulations through Fannie Mae, effective Jan. 1 (It's become more strict/difficult to get loans in some cases).FHA just scaled back their loan limits.

If you were to hire a property management company to handle both the properties and turn the whole thing over to them, they would get the rents up to par as quickly as possible without you first having to sort through two states' worth of regulations and second having to convince mom and dad to take your sage advice.The issue with the Florida tenant's rent payments might be your angle in pushing property management.

(B)That the Tenant/Buyer will not use the property for any unlawful purposes; and that the Tenant/Buyer will conform to and obey all laws, ordinances, rules, regulations, requirements and orders of all Federal, State, and local government authorities, agencies, departments, bureaus, boards or officials, respecting the use of the property.