Your strategy aligns pretty close with what we are thinking we are looking do.

I'm using Cozy for the other components of property management, but thought I could leverage FB for some of the things Cozy doesn't do.Just curious if you moved forward with this idea and how it has played out.  

Actually, the changes to options come from international accounting treaties so our books align in financial markets, little to do with Dodd-Frank, the IRS adopted the requirements under GAAP, so that's where the rub is and that won't be changed by any President, so as to lease-options, folks need to learn :)

Suggest looking at that component to start and see how tight things are. 

I know BP is rental property cash flow centric but you may want to look at other investment vehicles while you wait for SF to crash and you can then go on a buying spree again when you see the metic's align ... 

I have got the inspection done and all three components (rof/wiring/plumbing) are in decent condition and functional but no idea when was it upgraded.

Is there a formula for this cut assuming that the corner is somewhat aligned?

A fink is a component in the truss.

Check the declaration to verify there is a rental cap - some HOAs will add such restriction to the Rules and regs, but it might not align with what dec says.

Personally, if they hav a voucher I apply all my same criteria except the income component.