Fannie Mae's guidelines verbatim are as follows:Must be occupied by the borrower for some portion of the yearMust be suitable for year round occupancyBorrower must have exclusive control over the propertyMust not be rental property or a timeshare arrangement (this has the following disclaimer in the guidelines:  If the lender identifies rental income from the property, the loan is eligible for delivery as a second home as long as the income is not used for qualifying purposes, and all other requirements for second homes are met (including the occupancy requirement above).Cannot be subject to any agreements that give a management firm control over the OCCUPANCY of the propertyThis means that as long as you intend to occupy the property some portion of the year, you could absolutely rent it while you are not using it. 

Good ole' Empire State, removing all of the control but none of the responsibility from property owners.

Go on title or set up a joint LLC so you have control.

Signs of pest issues (Cockroaches, fleas, rodents, etc.)8.

Thanks for all the suggestions in advance. stop being so patient and take control of your site get a lawyer stop letting these guys push you around. if you need help give me a message I'll call them up and see why they are stringing you along 

Can't say I'm a fan and see this as frame work for rent control which is likely next.     

You'll save on labor costs and have better quality control.- Start small: Begin with a modest project to learn the ropes without overextending yourselves.- Create a detailed business plan: Outline roles, responsibilities, and how you'll handle decisions and potential conflicts.- Build a network: Connect with real estate agents, wholesalers, and other investors to find good deals.- Educate yourselves: Learn about local market trends, zoning laws, and permitting processes.- Set realistic timelines: Account for your full-time jobs when planning project schedules.- Budget carefully: Include a contingency fund for unexpected issues.- Focus on high-ROI improvements: Prioritize renovations that add the most value.- Document everything: Keep detailed records of expenses, work completed, and agreements.- Consider liability protection: Look into forming an LLC or other business entity.Starting with cash is a smart move to minimize risk and learn the process.

This is not a command and control economy, we are a free market.

When it comes to investments, you can rely on a third party to control the timeline of repairs since your tenants also have recourse depending on the situation.

So if you still want to pursue most units have a rental control cap.