HOA approval

[Josh Mitchell]

Just received HOA approval to rent out the condo we are currently living in. Just recently they voted to allow 15% of the units to be rented out, so everyone who wanted to rent, had to submit a request. Yesterday, we received word that we were picked as part of the 15% to rent our unit out! My wife and I were looking to move soon anyway, so if the HOA decides to reverse that policy in the near future, we will just look to sell the condo. With the average market rent in our area, after all expenses are taken out (Mortgage, HOA, 5% repairs 5% vacancies), we will be cash flowing $441/mo.! Excited to take that extra cash and invest in some more properties!