I live in Texas and Austin tried to get that approved but was shot down by the state government.  

Local governments in the Bay Area have governance issues and seem far more likely to go bankrupt. 

If they are a property management company and they refuse to respond, you can file a complaint with the state governing board.

This is a government-backed loan product that will lend you money to purchase and rehab a property with a super low 3.5% down payment.

Very, often these services have been built up over hundreds of years.. schools, hospitals, art galleries, government agencies, restaurants, coffee shops.. in fact, if people decide to work from home more, these neighborhoods will still be desirable places to live.That's not to say a lot of people won't choose to move to the burbs and buy a house with a big home office etc instead of a 2-bed apartment in the City.

Does the government care why I refinanced?

I was under the impression that the loan would need to be fully amortized in 30 years or less.However I’ve seen some loan modifications that was 40 years and these were government back loans.

@Jill GriffithSince Texas does not have a state income tax, property taxes are used to finance schools, hospitals, county governments, water, and flood control.

Guaranteed portion of the rental payment coming directly from the government.

Recording your deed and mortgage are government fees, they are non negotiable.