I have a very odd situation:I basically bought a house for a friend of mine about a year ago and gave him a 5% interest only loan for the entire purchase/closing/renovation costs.Both he and I would like him to get more permanent financing.But, he does not have a social security number. 

Have you talked to the county permits and zoning office to find out if there is any restrictions on the property?

Plus you have to deal with HOA restrictions, possible special assessments, etc.

But  odds are house   prices wont go down . 

I recommend checking with your HOA to see if you can rent out your condo and if there are any rental restrictions.

Regarding STR, there are restrictions, and they vary. 

This is because the LL has few options to terminate a lease that might as well restrict when tenant can leave without having to cover vacancy.  

According to the Fair Housing Act and the Americans with Disabilities Act:Even if a landlord has a no pet policy in place, the law does not consider service animals as pets and therefore the service animal is exempt from such a restriction.Service animals are allowed anywhere a person would go, including food areas that would normally restrict an animal’s presence.Landlords cannot charge a pet deposit or pet fee for service animals, however the tenant is liable for any damage that the service animal may cause.Landlords can require written verification from the tenant’s health care provider that they are disabled but cannot ask for any specifics about the disability.Landlords can require written verification from the tenant’s health care provider that the service animal is needed.Landlords can request copies of the animal’s health records to prove the animal is in good health, parasite-free and immunized/vaccinated.Landlords can write warnings or even evict a tenant with a service animal if the animal is disturbing others, posing a threat to others or causing considerable damage to the property.In other words, you can ask for appropriate paperwork concerning the tenant’s need for the service animal and to verify the animal’s health. 

Thank you in advance.Wholesaling is restricted in some states.

Despite the massive 15/2 odds against him.