The overall LTV (including all 3 mortgages) will be key and your selling point will need to be that the 2nd mortgage ($8k) will burn off in 2.5 years (based on your surprise that it was even out there, I'd recommend that you follow up in 2.5 years and ensure that it's been satisified, so that it doesn't surprise you again in the future).Does the $8k grant vest over the 5 years? 

My questions are;Do I have to take expenses as a deduction in a year in which they occurred even if I do not get income until the following year  I have other rental property, but my taxable income on them after expenses is only gonna be about $5000 So is there anyway to roll over expenses to the next year since I cannot deduct the remaining 15,000 and expenses against my W-2 income?

So their plan is follow Hawaii’s “protect the homeowners plan:  how did that work out?

And following this convoluted rabbit hole calculate what kind of property you would need to exceed the profit level you have right now. 

Start with networking, go to all events you can and follow up with who you meet.

I am not clearly following the the refinance bit.

.- Understand that you can have never more than 2/3 of the following:  Fast, Good, and Cheap.  

I can always go back to our attorney and ask for clarification on the language, but following your thinking, this is what I'm coming up with.Days 6 - 10 would be $1550 * 18% = $279 / 365 = $0.76 per day. 

I appreciate the insight that you and John offered regarding the lack of value in the business itself and strictly the land + improvements.

A quick google search of your state indicates the following regaridng timeline to give notice:30 daysFor tenants who have lived in the property for less than one year, or have a lease for less than one year60 daysFor tenants who have lived in the property for more than one year but less than two years, or have a lease for more than one year but less than two years90 daysFor tenants who have lived in the property for more than two years, or have a lease for at least two yearsI'd definitely touch base with an eviction attorney in your state to ensure you are not missing any steps and to have the attorney as a backup option in case the tenant does not vacate easily.