From my question you would all guess I am a newbie at this.....here's my question, does the city actually sends somebody to inspect the property after receiving the license application or just issue the license if I go and apply for the same at the center city office.The property is being refurbished and plan to put it on the market for rent around Nov 1st.I appreciate your earliest reply.

This will be really helpful come tax time especially if you have other properties or plan to buy more. 

Always understand your out plan before you get in.

P.s I don’t plan on selling anytime soon.

I took out a $50,000 HELOC @ 8% Interest from my Primary residence in Colorado Springs, before I began to rent it out, I had no idea at the time my parents planned to move. 

Just need some cosmetic repair of kitchen sink and bathroom sink to me) After phachase, we plan to furnish and do short term rental. 

That would fill in the daytime and nighttime traffic and keep the building busy which would attract higher paying tenants for all of the other suites.A mural is a part of the plan.

I plan to use this home as a long term rental.

Still running the numbers, but the plan is to BRRRR but flip would be the backup exit strategy.Does anyone have experience installing HVAC in old houses that do not have central air?

The plan was built around that payment so the maximum could go to cash value.