The silver lining to that is that, because rents increases have been suppressed for a while, there should be some upward pressure on them to snap back up after home prices start to rise again, which is effectively happening now because rates finally went down.

You may want to contact an attorney in your area if you want to push back. Up

POF link referenced by Chris is for back-to-back--closing, when you have a cash buyer and need transactional funding to close on the property, or when there is hard money involved to back up the purchase. 

I had a similar issue as a buyer's agent and I had to go back and forth with the builder multiple times and even back up the closing date because there were a few items to take care of, have your agent represent you on that. 

I will advise the Reafco agents who post on the forums to ensure they are adding value and not simply repeating what other Reafco agents have already said in the thread.I think a lot of the issues are the ones who are making widespread statements about the area or their investors that they can not back up.

It's a simple and free tool that everybody uses, and that is at least a backup in case something happens - you lose your hard files, there's a fire, or some file nerd breaks in and steals your documents. 

Then if the association cracks down, you'll have a backup plan where you still at least break even on PITIA.Hope that helps!

Even with the 5yr treasury back up a bit, you should still be able to get this in the low 7's with a 1yr PPP, perhaps still under 7%. 

I’m not familiar with that particular market but I generally recommend to do your research and run your numbers across multiple scenarios to see if the property still works and to have some back up/exit strategies mapped out before going into any deal. 

If you don’t have a contractor yet...put the brakes on your whole operation until you have a great contractor and a backup as well.