Here is how it appears on the app:Mortgage Information        ^Equity percent:48%Mortgage amount:        Mortgage term:$93,000                            0 yearLender name:First Horizon Hm LnAssessed value:$178,800

If a primary residence is converted to a long-term rental property, can bonus depreciation still be claimed in the first year?

But if the tenant signed an agreement for the increased rent amount, that is sufficient to bind the tenant to the contract terms. 

I also intend to hold assets for long term.  

Refi from hard money into long-term owner-occupied financing was super tricky.

We specialize in long-term rentals (7-12 month leases) for properties from 1 to 80 units; single-family, duplexes, triplexes, condos, townhomes, and apartment buildings, that's our bread and butter.

I’d recommend getting terms from private and hard money lenders.

Are the father and son on bad terms?  

Its definitely this - one of the few tougher states to go through all the hoops for - most national lenders carve it out since the thought is the size of the market (small) doesn't justify the expense/effort

Typically for longer term rentals, but you could try to strike a deal.