The issue I am facing is that the property is zoned for residential use only, and I am interested in renting out both the main house and the pool house as separate units.

Purchase price: $204,000,000 Cash invested: $60,000,000I worked for a Hong Kong public company & high-end luxury residential developer and helped to develop a $204 million condo project called "The Graystone" which is in Seattle's First Hill District.What made you interested in investing in this type of deal?

I read their cc&r and the only thing I found that relates to rentals is a line that reads “Property shall be used for residential purposes only”But I’ve reached out to the hoa and was told “Our HOA regulations say single family home which means No vrbo or short term rentals.”I’m getting confused since I’m fairly certain that single family home doesn’t mean what they think it means.

In the United States in 2024, mortgage rates are generally tied to the overall bond market, as most residential mortgages, including conventional qualifying mortgages for owner-occupants, residential investment mortgages (DSCR loans), and even other alternative residential mortgages (non-QM), are securitized.

Hey Samuel, What percentage is commercial compared to residential?

Condos come with less responsibilities and more convenient to own and use as rental, but history and market trend has shown Single family residential, comes with more equity appreciation and higher Cash flow. 

Take a look on NARPM.orgThis is the National Association of Residential Property Managers.

Generally, I would think that commercial real estate (especially B and C class industrial/warehousing) would be less averse to the close train proximity then residential.

What are cashout refi rates looking like on primary residential these days?

The laws in California are much different that Texas let alone how difficult it might be to coordinate efforts for your property.I would check the database of narpm.org which is a great organization for residential property managers.Good luck!