As with many big problems, it's easy to keep kicking the can down the road, but we needed to get this done.

Sounds like maybe the egress window is the way to go if I want it to be a legal bed.I see in the code that it states that it can't be "below grade and damp".I was wondering if anyone knows if that means as long as I have a built in dehumidifier running, then it would be ok?

You will need patience and need to keep your eyes open. 

The purpose of that LLC (I presume) is to hold your property and keep track of expenses and rental income for that property.

This helps catch any discrepancies early and keeps you informed about your properties' performance.Budgeting and Forecasting: Create a budget for each property, including expected income, expenses, and reserves for maintenance or vacancies.

You want to keep paying cheap rent but get an A-class rental in exchange.

However, keep in mind that in some states including mine (PA) that you get hit with property transfer tax twice.

This means it is a business use of your home. 

We are lucky to have contractors we use regularly locally and get bumped up in the cue when we need work done because they know we are here for the long haul and will keep bringing them business. 

Worse comes to worse, you could always hold onto their application and let them know you will keep in on file for later consideration.