If you call a local or regional bank, set up an appointment to speak with a loan officer and they will be happy to explain the advantages of either.

It would have changed the narrative on the home I have today, especially the parts of the book explaining the analysis of a contract.

What is your primary objective with the rental?

There have been some big lessons learned here as stated.But back to this lender.....what could possibly explain a $20,000 HELOC offer when there is $210,000 equity in the property?

If they can not explain those coverages in relation to a rented condo unit you may what to seek out one that has a better knowledge of that situation.   

., (1964) 42 TC 1067.The Supreme Court has explained that the distinction between co-owners of property and partners depends on whether they intend to and, in fact, join together for the present conduct of an undertaking or enterprise-The following factors are often cited as evidence of this intent:The agreement of the parties and their conduct in executing its terms;The contributions, if any, that each party makes to the venture;Control over income and capital and the right of each party to make withdrawals;Whether the parties are co-proprietors who share in net profits and have an obligation to share losses;Whether business was conducted in the joint names of the parties;Whether the parties held themselves out as joint venturers; andWhether separate books of account were maintained for the venture.The court held that the co-ownership arrangement constituted a partnership for federal tax purposes.

Any economic Pros out there can dive a little deeper on this subject so I am able to explain this better to my Clients?

So, I believe this would explain how much I know about it.

Somebody explain to me in a rational manner how the property manager should be stopping criminals from breaking into the home?

The biggest thing I learned was, I am an agent and in this situation, I could have explained early on what the sellers could net in the current condition and explained all the buyer pitfalls.