The building is literally split by two lots, why, I don't know but it is.  

It sounds like you don't know the laws or the potential repercussions.

We've certainly experienced a fair share of new build/builder quality control issues.I do believe the long term has significant upsides but you know that already with your understanding of the mountain communities.

I know that most of my questions will be the basic ones, but, i would like to understand what should we do. 1.

@Kevin DiMaggio - I know what I would do in your situation.  

What I didn’t know at the time is that we were in violation of occupancy laws (ignorance was bliss on that one, thankfully we never got reported for having more than the allowable number of people living in the house).

I wish I could help on this, but now you know one thing to look out for (rural properties are sometimes VERY tough for lenders to get behind).Advice would be here to force their hand in communicating, and if they're not living up to your standards, proceed to find another lender that will.

Assess if you have enough time for tasks like tenant screening and maintenance.Expertise: Professional managers know landlord-tenant laws and property maintenance best practices.Cost vs. benefit: Weigh management fees against potential savings and efficiencies professionals might offer.Property location: Distance from your home to the property matters.Number of units: More properties increase management complexity.Stress tolerance: Consider your comfort level with tenant interactions and problem-solving.Long-term goals: Professional management can free you to focus on expanding your real estate portfolio.

The three markets I know the best are Syracuse, Binghamton and Ithaca, and they're radically different.

Does anyone know what type of documentation is needed to prove the HELOC funds are used for improvements to the property?