HOA woes while trying to rent my home

[Benjamin Gonzalez]

I live in a townhouse with and hoa in Pembroke Pines. I would like to start aquiring rental real estate so I thought I could start with my townhouse. I would like to move to a SFH and keep my townhouse as a rental since my area has high rents and my mortgage is low. There is a renters cap in our community so I had to go on a pending renters list before I could rent my home. My turn to rent finally arrived after waiting about 4 years on the renters list. The hoa is giving me 30 days to find a new home, move and find a new tenant for my town house. This is difficult to do especially when i was notified on day 1 when the clock was already ticking. If I cant take this opportunity then I might have to wait a few more years for my turn to come around again. I tried to rent it to my brother in law and have us as his house guests in the mean time while i find a SFH but the hoa says the owner can not occupy the home and be on the renters list. They say it would be considered a multifamily home which is illegal. What would you guys suggest I do?

[Mindy Jensen]

I would concentrate on getting it rented out now, and put finding a new property to live in on the back burner until after this is rented.

$800 cash flow is no joke, and to have to wait, possibly for another 4 years is not my first choice.

Get it rented, and move your stuff into a friend's house, or a storage unit until you find a property you can buy. Stay in a hotel if you have to, but I'd focus on renting that place out.