I am not a professional accountant so I would check with one for the details but I am almost sure this is the case. 

You have a lot of professionals that live in that area.

These are professionals with additional training and a stricter code of ethics.

It is a bit mind blowing that we can now access such a vast resevoir of wisdom here, kinda makes up for all the time wasted on nonproductive internet crap:)The warchest therory has another downside; similiar to folks endorsing gold to hedge against catastrophe, what happens when the storm passes and you and everyone else now has to turn their gold into cash at the same time?

It's the nature of the business.I wouldn't recommend hiring an agent since most agents aren't familiar or comfortable with the areas you would be investing.Your best bet is to find professionals in all facets of the process in the market you choose then fly in to town for a couple of days.

I've talked to 3 mortgage professionals, and they have all told me no HELOC is possible because I now have something considered to be a multifamily property with a primary loan on a single family property.My goal is to take out a $25k loan to pay my mortgage down and get out of paying PMI. 

Certain buildings will tend to appeal to other types of tenants; professionals would be interested in different things that retail businesses, etc.What amenities are important to you? 

Sure you may get some business from it but operating off of fear and not allowing other professionals to come doesn't make it look like you are coming from a place of giving. 

My attorney here in AZ has a form that we send to the tenant that they must have filled out and signed by their Doctor, we accept nothing other than our form because generic forms are sold on the internet everyday.

Unless you insulate EVERYTHING and put in good electrical heaters and have a professional do the work then think twice about it.