Or 2 baths and a powder room accessible from the common area in order to make the living room/kitchen larger?

Some counterpoints:- The $250K in real estate is not “locked up” and can be accessed via HELOC or sale.

Todd,A Reverse Mortgage or HECM loan is an Agency backed mortgage that allows you to access a portion of your equity with no payment required, the interest you're not paying gets added to the loan.

Your pro membership gives you access to those right here on BP

I did not sign up for the whole thing, but for a smaller fee, got access to the messageboards, videos and other materials.

You can still access the main site via a web browser on your mobile device.

So I call the bank (REO property) and they agreed to secure and give me access to finalize appraisal, but this was not a requirement for them on the conditions of the sale.

3) Is rent by the room a feasible strategy with these county/city living restrictions?

The Buyer agrees to use commercially reasonable efforts to secure such financing within [Number] days following the execution of the PSA.Closing DateThe closing of the transaction (the "Closing") shall occur on or before [Proposed Closing Date], or such other date as may be mutually agreed upon by the parties in writing, subject to the satisfaction of all conditions precedent set forth in the PSA.Condition of TitleThe Seller shall convey to the Buyer good and marketable fee simple title to the Property by warranty deed, free and clear of all liens, encumbrances, leases, tenancies, easements, restrictions, and other exceptions to title, except as may be expressly approved by the Buyer in writing.Property DocumentationThe Seller shall deliver to the Buyer, within [Number] days of the execution of the PSA, all documents and information relating to the Property in the Seller's possession or control, including but not limited to, title reports, surveys, environmental reports, leases, service contracts, permits, and warranties.Non-Binding NatureThis LOI is intended solely as an expression of the mutual intent of the parties with respect to the proposed transaction and does not constitute a binding agreement, except with respect to Section 9 below.

I definitely could've tried to maximize my monthly income by renting the property by room, but with HOA restrictions and my inability to comfortably find a property manager that manages rentals by the room were my biggest reasons to rent out the entire property under one lease.