@Scott Mac Hi Scott,Thank you so much for taking the time to share your perspective—it’s truly appreciated!

@Jesse Simmons I want to tackle this from a little different perspective if you don't mind.  

I have a slightly different perspective than most.

This way you have a free or mostly free refinance from a cost perspective. 

It will be a can of worms for sure and they may go as far as requiring a full tear out and fresh submittal.

Only after water is visibly coming out of this secondary cleanout would the city take responsibility and investigate further.Questions & Concerns:Does this process make sense from the plumber’s perspective?

Quote from @Keith Angell: @Daniel TanasaThank you for the congratulations and for sharing your perspective—it’s much appreciated!

Based on the numbers you provided, these are well above the debt service coverage ratio of 1.25 hence from a lenders perspective, this is loanable.

Both from how you want to structure your rental property business and how to handle things from a tax perspective. 

Not looking forward to losses, just meant in the sense that I have a new STR and will expect to incur losses in year 1 and this is advantageous from a tax perspective in a sense.