Question on LTR and AirBnB Arbitrage to Tenant

[Akshay Bhaskaran]

We are about to close on our townhome in Atlanta, GA, and the house is already marketed for rent (long-term rental).

We got an enquiry from someone who said they will live in the property for 6 months, and the rest of the time would like to AirBnB it. 

Question(s):
1. This is under an HOA, should we consult them to proceed with this, or need to take our own risk? Do people do this?
2. Is this legally allowed? It will be a long-term lease b/w us and the tenant, and the tenant would do it as a short-term rental (literally AirBNB arbitrage)
3. What are other stuffs that needs to be taken into account?