In order to be protected from eviction for non payment, the tenant must qualify under the order, submit the declaration to you and adhere to it, including making timely partial rent payments. 

To make things more interesting, the tenant that lived in the unit was admitted to a mental facility and declared that he did not want any of his belongings back.

Since I only anticipate doing two flips next year I'd prefer to declare the profits as investment income on my tax return rather than business income.

I would focus more on building your skillset and maybe pick up a weekend job so you can earn and save more money.The retire by 30 crowd preaches save, save, save which is a GREAT muscle to build.

@Alan G.court ruling last year in PA declared that collecting last month's rent is the same as a security deposit.

Read your By-laws and Declaration.

Or, your Board is playing games with your money.You would need to closely review your By-laws and Declaration to determine if the Board has the authority to, apparently, change the annual payment amounts for the Assessment, or, are they creating a new Assessment each year and making more "adjustments".

The city's laws regarding STR permits only allow us to use one unit as an STR and that apartment number must be declared beforehand and can not be changed so we chose to use the 4 bedroom to maximize the amount of guests we can host at one time. 

Way too much risk of having the situation declared an equitable mortgage.The house sells for $400K, less 6% commissions, 2% closing costs and 3% seller concessions.

With a little muscle you could physically run them off yourself (friends) before you take ownership with little risk to you.