Rental Cap Limit 30% ??? Any options before to buy?

[John Landmark]

Hi! I'd appreciate any help here. I just wondering any work around to rentals to avoid to be trap in Condominium rental cap. The manager of the association where I plan to buy (for rental) just told me that they have a 30% rental limit for the condominium. I'm practically new in real state investment. Is there any option to avoid this kind of head ache?? What about if I buy and then I cannot rent my unit? Any other investment alternative? I want to invest $150k

                      Thanks!!! John

[Brie Schmidt]

@John Landmark This is a common problem with condos - The HOA bylaws can restrict many things for the investor. Personally, I will never buy a condo for this reason. If you have $150k you can look for other condos who do not have rental restrictions (make sure you read the entire bylaws, some condos allowed exemptions during the recession but they can enforce the original rules at any time) or use the money as a down payment on a bigger property