Mitigation Strategy: Develop strong tenant screening processes to ensure reliable tenants, and maintain good relationships to encourage timely payments and longer leases.

Then find a reliable VA lender that can help you max your benefits in the best way.

To navigate these challenges, condo associations need to be proactive in exploring their options and seeking legal counsel to ensure compliance and financial stability, and condo owners need to consult experienced agents on what to do, whether they're looking to buy or sell. 

You may be able to deduct interest paid on the loan but to make this determination, please consult a qualified income tax specialist. 

Like @Carlos Valencia mentioned, its good to consult with your lender to see what else is needed prior to reaching clear to close or CTC on your file.

This will depend upon state and local laws, I would definitely consult a RE attorney with HOA and/or STR experience. 

Consider the potential for increased property value and rental income against the additional management responsibilities and possible tax implications.Remember to consult with local authorities and possibly a real estate attorney to ensure full compliance with all regulations in your specific area.Let me know if you need funding for the rehab.Regards,Jackson

As rental rates progressively outpace expenses over time, the growth in cash flow can provide a reliable income stream.In line with my investment approach, I focus on these three key metrics when conducting property analyses:Initial Equity at the End of Year One:This equity can result from either a down payment or improvements made during a rehab phase.

You’re on the right track, but make sure to consult with your CPA to confirm your plan aligns with your situation.

Consult a Realtor, contractor, property manager, or lender, and then request referrals for the remaining three.