Has anyone been in a situation where they acquired a condo and operated it as an STR when the HOA did not make the exclusion in their CC&Rs, but then faced resistance from the HOA?

Let's keep this as simple as possible....Ex 1: 3 single-family rentals, value $300-400 each.

Blue County = High taxes, pretty simple :)at $300 a month in taxes that’s a cash flow killer, you will need to go to the board next year and request an adjustment if possible, you may get granted but you will need to have a good report presented to the board with comps that are very similar to yours, but again it will be difficult because your property uncapped and it will never go back. 

Its actually so simple is seems silly when you read about it, but that is the beauty.

Some title companies will require an operating agreement, even if sole member, to buy or finance a property.  

Having someone who has owned and operated a similar asset is worth its weight in gold. 

@Kayla Givens Do you own the houses where you operate the SL homes?

That’s how you’ll get all the deals.It really is that simple.

Yes, you can ultimately own a property with little/nothing out of pocket when you're done - but when you reposition with today's rates even moderately leveraged stabilized assets can be hard to find cashflow with debt service and a realistic operating expense load.

We had to 'pierce the veil' and have an underlying partnership agreement, bank account in the partnership name rather than Land Trust name, but it did work out to open an operating account for each property.