You claim the tenant is "stringing you along" and Im sure that is true, but you also have the ability to be VERY clear with your communication and approach.

If you create a program to provide funding for renters but you don't have the money to do it then you need to pause your obstruction of an owner's ability to remove a tenant until at least your program is funded because otherwise it's basically a scam.

This, accompanied with their ability to raise fees at will is why buying a condo or in an HOA can always be a risk to an investor.

That and the lack of ability to communicate with potential tenants and a lack of an available PM (the two I called wouldn't manage it) we stayed away.

Your CPA may be right and Yonah wrong, although your CPA seems confused about the idea that you need to have made a lot of improvements to take advantage of this.Since you are a W2 employee (and presumably not a real estate professional), your ability to take advantage of extra depreciation will be limited. 

Having faith in yourself and your abilities to not know it all but be able to figure it out when you need to is key.

Maybe if they are willing to talk to you, you can let them know you are willing to let them go without having to pay anything or you are going to attempt to take all of the money owed directly out of their pay check, also let them know that it will have a serious impact on their ability to get into another rental - it doesnt seem like they care though lol. 

the future side of this is still an unknown quantity so its a risk that should be evaluated carefully.There are also several bills currently proposed in WA legislature which are likely to pass in some form or other which will substantially affect your situation - look at SB 5139 - "temporary" rent control   and SB 5160 - extending COVID protections for 2 YEARS past end of declared emergency,   payment plans based on "tenants ability to pay"  and blocking use of eviction and payment history in tenant screening  (!!!!) 

@Antonio Bodley The BRRRR method can offer you the ability to 'have no money in the deal' but you definitely need money to do it.

Provided a suitable down-size from our old home, with the ability to generate cash flow after we move out in a few years.