I don't know about Tennessee, but in Texas Condo Associations and HOAs are regulated by the state.

They have to respond to regulators and law enforcement.

What holds me from more fundamental investments in the independence is regulation, which is also the other risk of this business.

There are regulations to follow from the feds, state, county, city, the broker you work for and any MLS you belong to...

Raising money from investors is a huge responsibility and highly regulated.  

Lender has said that earlier in the year, federal regulations were passed that won't allow you to get a conforming mortgage in the name of an LLC.

Most of my clients do Regulation D, Rule 506(b) Offerings until they run out of Sophisticated Investors.

And while I believe most lenders tend to the ethical side, it's the people who aren't that force us to create rules/regulations to protect everyone else.There does seem to be some nick-nack fees there, but all told, at that rate, it seems like you should just zip the lip, grab that cash, and RUN!

There may also be environmental overlay districts, historic districts, and other considerations to zoning that you have to be aware of, so I'd definitely start with the zoning regulations,  from the zoning/planning  department

Hi Jessica,I own a PM Company in KCMO (and thus have a Brokers License), so we're subject to the same statutes/regulations under MO law.