The credit was designed initially to prevent homeowners being priced out of their own home as property taxes increased (especially in the early 2000's).

Most probably do because of their lack of local real estate knowledge preventing them from pricing their property correctly, liability on transaction, and having bias attitudes towards their property.   

There are even formulas and charts...But after a decade I see Cap Ex is a fickle and sometimes arbitrary mistress, and sometimes you have to have the money or else (like to prevent roof failure) but other times, like with my 80's cabinets that I refinished (and they still get compliments), things can go safely and usefully past their useful life (80's brown shag carpet anyone?

With an LLC I put in the operating agreements that ownership cannot be sold without unanimous consent to prevent bad surprises. 

Here is an example from ours:APPLIANCES.Appliances included in the rental of the premises, as noted in the rental agreement, such as a refrigerator, range, dishwasher, clothes washer or clothes dryer, belong to Landlord.If Tenant wishes to use these appliances, Tenant agrees to use them properly in accordance with manufacturer instructions and assumes all responsibility for their care and cleaning.In the event there is a malfunction of an appliance or an appliance is in need of repair, Tenant agrees to notify Landlord in a timely manner and in writing.If Tenant wishes to use their own appliances, Tenant agrees to contact Landlord in advance to obtain prior written approval and instructions, as the removal and installation of appliances must be done with care to prevent damage to the appliance and/or building.We always place water alarms near washing machines, hot water heaters, and under the kitchen sink.

No harmful elements or presence of mold that would otherwise prevent living in the home. 

If you home is old, then depreciation on the materials can prevent you from receiving thousands of dollars on your claim.Fortunately, DP 3 insurance is replacement cost insurance.

However, city code is preventing me.

But doing this also carries the burden of administering the multiple entities and observing the corporate formalities so as to prevent "piercing" of the liability shield.  

I would like to begin soon in order to prevent myself from staying in the researching stage too long.