Instant added value, age in place, rental potential all very sellable, 3) you'd have to declare your intention with the city and probably have to give up your right to that spot, 4) yes and it will make a nice deduction as it will be used "exclusively" for your business so that will help with your taxes, air bnb and long term rental is totally allowed as long as you get the correct permits from the city for air bnb especially.

If you're dealing with a private investor (like me) as the lender, an exclusive deal for you might be possible.

It’s my favorite strategy hands down and what I’ve been doing exclusively for the past 5 or so years.

You have to wait two years before using the exclusion again.

The inspections were done in November but because of the holidays, the financing period was extended due to the banks needing extra time to close.So after taking over, 2 tenants told me that their furnace is out and the previous owner was notified.

Vendors pay to get the word out for their business, and you get access to exclusive deals.

There are some exceptions like when you want to sell you homestead to your own a Corp to get the 121 exclusion to transform it as a rental.

@Brian Garrett - Exclusively because of termites?

And you don't still get the full 121 exclusion. 

You can be eligible to use section 121 exclusion if you decide to sell the house.