But non-lenders cannot reasonably get access to it short of bribing someone from within. 

We have a team of virtual assistants that are trained to setup and manage short term rentals.

You are not a party and worse case scenario is that the someone inspects the place (unlikely) and does not believe the couch sleeper is a short term guest (how to tell?)

So making long story short they simply covered their *** legally and there is nothing you can really do if your city code prevents you from removing dangerous pests by yourself. 

Do not look for short cuts.

What attracted me to BP was the network of people who actively participate in the forums and wanted to connect with like-minded individuals.

The municipal code in San Jose requires that you live in the property for a decent portion of the year (I think it's 180 days) if you are going to rent out the whole property for short term rentals.

Because the purchase price is pretty far under market value, will that attract attention from the IRS, or should I be fine?

I would not volunteer any information about your property ownership or corporate structure as it is and area outside the expertise of most boarder agents and foisting such material upon them is just asking for a longer sojourn at the border.In short, when asked tell the truth, but only the information sufficient to answer the question.

However all of the attraction of investors, plus a new mayor who seems to be up for the task, those rough areas are slowly being turned back over.Feel free to holler at me if you are thinking about coming in town.