. :)The deal with the 100 mile rule is only applicable if deriving rental income from the departing residence is needed to make the numbers work.VA - will count departing residence rental income once you've got landlord experience.FHA - will count departing residence rental income in very rare circumstances that aren't applicable to most people. 

The new rules are draconian. 

But as a rule of thumb, I would take a look at your city's zoning code or call up the building department and ask how many parking spots are required per unit.

On my end, probably >70% of the time veterans receiving disability benefits, and single women receiving alimony or child support, who are applying for a mortgage, will not tell me about those income sources unless I specifically ask.

You'll find out how they "should" be handled by the board and then you can hold them accountable for following said rules or be in legal jeopardy for not following their own bylaws.

That leads to "hoarding cash" either in a checking account or in equity, because rule #1 of investing is don't lose capital.So I propose an Option D: Invest $100 in something you think is worth $120, but was worth $100 and it corrects to $75; you still get a 6% return, but now you need to pay to add value, which gets you to $100.

The only thing I would watch out for are the rules and regulations imposed by the city of Seattle for rentals within the city limits. 

A JV contract would stay in each parties possession, but in the event of a disagreement, you may end up in a civil court battle with no way to cloud the title until the judge made a ruling. 

If she fights you the fees run about $1500 but less than that if she doesn’t fight.In the meantime, play by the rules don’t make any mistakes and don’t get emotional.

I will be managing the property myself until my portfolio is able to support a PM.