Her very broker answer was, "lenders have different rules than us, and I don't think the legal department of BoA would promote this if they thought it broke rules or fell in a gray area".  

This definitely sounds over complicated, and there is too much room for gray area when it comes to actual costs to be recouped.

Regarding Calgary it feel in a weird gray area, I believe 8 rooms and more you can apply for a lodging license, and if you don't live at the property up to 3 bedrooms is allowed but between 4 and 7 is sort of an unfilled gap by regulations

@Jeff Fruhwirth If they mark the requirement satisfied as good faith and intent, then I guess a gray area argument could be made.

So many gray issues with this one.

It is a more of a gray area if you are finding opportunities to flip to purchasers with known criteria, especially if your flip is the kind where you assign your contract and never go through with closing.

Hello @Omar Gray welcome to the wonderful word of BP where all of your dreams and wished will come true.

Is this a gray area, or do not change locks/touch belongings without court order?

@Jason Gray standard reporting for debt and equity holders in commercial (and many real estate business owners)

I'm trying to navigate this gray area of having a license and wholesaling properties.