I think about taking these few issues and multiplying them out times ten (that's today, and hopefully in the future 20X or 30X) and it just makes me depressed thinking about it.  

To scale, I plan to build a reliable local team, leverage 25% down payments, and use strategies like HELOCs or cash-out refinancing for future acquisitions.Good luck!

In the future you will have smaller deductions each year than you would have had if you didn’t do this.

So, for future sakes, I wouldn't get involved in these deals, unless I have more of a gap. 20-23k or so of profit is SUPER tight.

@Sherry TsaiWhere are people going to be moving to in the future? 

I would talk to an accountant about future planning for any REI investments for your 1031 questions & to discuss depreciation for rentals.

Will definitely be adding a non-compete clause in the lease for the future.

No one knows what will happen, but you can read the plan straight from the horses mouth and it does not look good for the future of subsidized housing.

I’d be very grateful for any advice or recommendations on how best to approach these modifications.Also if I were to refinance in the future to pull out cash from the property, is this something that banks could refuse to lend on if I have code violations of lets say a wall that was moved or removed?

If I have a trust with someone I can be paid in advance and they know the job will get done or I can do the job and get the money in the future whenever it is convenient for my client.