There are some places like up in the panhandle where the local governments support it and welcome it and then there are other areas like the city of Orlando that have strict limitations.

Some of the biggest challenges investors of all sectors face is: 1) Managing your emotions and feelings to make rational decisions. 2) Time management. 3) Taking action. 

I believe the rate is worse with the cash-out.Not that anyone expects the Great Recession again, but one difference between a HELOC and a cash-out is that the HELOC can be shut down if the banking sector gets spooked like they did in 09.

Government doesn't usually think that way though.If you get an assignment of the mortgage, then controlling the SBA loan would be better for you too. 

Whatever notice we receive if the building, or any part of it is taken by any government agency for any reason.

If you have an option I would tend to do a lease because it is more used which any expected buyer would want to review what governs each unit before they would purchase it, usually, and usually it would be good to approve whatever your need is.Vacancies always tend to hurt on fewer unit complexes.

My initial thought is that it is because we went to our Local Government Employees Credit Union.

Tax savings through depreciation (whether standard or accelerated) are essentially a 0% loan from the government but it must be repaid when recaptured. 

I was told they paid on time, $650 a month, and were on government aid so the money flow was reliable.  

I understand the hesitation from the first bank on this sector of homes as the expenses and turn over are generally very high.