They said that per California Revenue and Taxation code, they're asking me to provide them info such as the purchase agreement, rent rolls, etc. to assist them in doing the reappraisal of my property.  

Hoping we get the 100% back but reasonable to still get the 40%.also, can an individual/LLC have more than 1 property per year that they can do the bonus depreciation on?

I like how even though you rent to the working class individual and they aren't $100K+ homes.  

In about 10 years they should be worth more than USD $500,000 individually and more importantly have a business model and the knowledge to expand in Belize and other countries.  

However, it’s important to understand the loan’s key requirements:Owner-Occupancy: The borrower must live in one of the units as their primary residence for at least 12 months.Single Borrower: FHA loans are issued to individuals, not partnerships or entities, which means the loan would need to be in your name alone.Given your scenario, only you can qualify for the 203(k) loan since your partner does not intend to occupy the property.2.

From my limited understanding of how they work is that S8 is a federal program that the local HA apply to so the funding is "Unlimited" as in that the local HA isn't individually funded.

But you can easily contact your servicer (who you send the monthly checks too) and they can assist. 

It seems like it basically up to you to do the math on how much more you will potentially make selling each unit individually and then deciding if that extra $$$ is worth the number of extra hours you will spend.

There are always some self-righteous individuals who try to appear as very professional figures in this community. 

Mostly you're going to see that on high end expensive homes, where sellers only allow pre-qualified individuals to tout their homes.