A good securities attorney that understands the new 506(c) rules along with the pitfalls for reasonableness screening is a necessity.Note that these are not called "private placements" any more because they're no longer private.

@Mahesh K I have to say that I feel for you, this is one of those situations where no matter which route you end up taking, there are many possible pitfalls, so lets hope that things work out for you in the end, which is certainly possible, its certainly also possible that things will work out one way or another here.I really urge you to read this pdf file that I cut and pasted some of the parts of in my earlier post, I wish I could link to it but its a pdf download but just google "esa dog" and look for the "Right to Emotional Support Animals in "no pet" housingresult, its something I think was written by an attorney that sounds like he comes from the point of view of being an attorney that represents the people claiming disability.

I figure an experienced bidder would be able to help me navigate this tricky process (courthouse bidding), and hopefully help me avoid the pitfalls.

But won't rule out the Clearwater area....any advice, suggestions, pitfalls, etc.

Lots of potential pitfalls run through my head with this situation.

He is reasonable with price and he is willing to sign any kind of contract I present to him, but I'm wondering if there are any pitfalls that could land on my shoulders.

Excellent thread and very thought-provoking.However, in some places property manager isn't a popular profession and is filled with potential pitfalls.

There are plenty of pitfalls that others addressed about renting to family and their friends, but there are ways to structure a deal that works for you and allows you to provide a good investment for you and a good property for your daughter.

Are there any other pitfalls I should be thinking about if the bathroom was unpermitted by the county?

Not trying to be flippant (really hurt by that loss, actually), but just trying to help you step back a bit and realize that when you belong to an HOA or condo assoc, you kind of sign on to the pitfalls involved.