The lender is taking $50,000 of your equity in the first property and applying it towards the second.

Then I saw an updated letter sent to my online account with them that the 2 year clause applies.

There are a some details in the fine print, such as HPA doesn't apply to FHA or VA loans, and your loan payments need to be in good standing. 

If you have an llc you can apply for a home improvement contractors license but there are expenses involved with that. 

Or a neighbor that decides the easement over his land to your parcel which is clearly defined in the title does not apply to him because its a Tuesday and he does not like Tuesdays.

Now just applying to mindset to figure out how to scale.Always open to chatting 😁

Please, no advice about forming an LLC unless it applies to both an individual and an LLC.

I thought the deferral and discount ONLY applied to Capital Gains and not to Depreciation Recapture.

We're applying for a third loan and it will be interesting to see if they've changed in the last year.

(property was built in 1890)Also in the agreement I wrote, if they did not apply this "trickle" technique, the potential repair responsibility$$ would fall on them after acknowledging and signing the agreement.