Unique strategy

[Karl Watson]

I live in a 6 unit building that is all owner occupied at the moment. Our HOA is incorporated. My idea is to have our HOA "business" save enough cash for a down payment and set it aside. Then, if any unit wants to sell in the future, the HOA can purchase the unit and we can rent it out. Based on the current rental market we would be able to cash flow between 3-500/month.

There are obviously many different factors that play into this scenario, but I wanted to get an idea of what people thought about the basic idea of it. I am not looking for every little detail of why it might not work, but simply if you think it could work and if you think it would be worth it.

I am also wondering if this would count as REI "experience" when I go to apply for loans in the future. I am the president of the HOA and I would be the one handling the rental.

Thanks for the help!