Condo Investment and dealing with Condo Assoc.

[Michael Perry]

My wife and I are currently looking at Condos for investment hold properties. The Condo Association allows for the purchasing of Condos for rent at a 15% capacity. With that being the cap. we were discouraged to even attempt purchase for rent. What kinds of difficulties will we face if we purchase and rent the property despite this obstacle?

[Rick Baggenstoss]

@Andy Luick That's @Account Closed  persona.  It can be entertaining or really annoying.  However, he often has a point buried in there somewhere.

@Michael Perry Probably not a good idea for the reasons above, plus condo values are volatile and as Bob said, you're at the mercy of the HOA. HOA's can be ruinous.