If you own the home, as opposed to renting it from someone else, then, even if you were renting the extra rooms in your house to your friends, you would not be sub-letting - which implies you are subleasing all, or a portion, of a premises you are leasing from a third-party.It may be time to tell the HOA manager to get stuffed.

So buying is clearly better for you.A sandwich lease means the owner is still legally a landlord, with all the responsibilities that implies, even though they might understand you'd be sub-leasing to your tenant.

According to HUD 4155.1 Chapter Five Section B, In order for funds to be considered a gift, there must be no expected or implied repayment of the funds to the donor by the borrower.

Lot implies you can build on it, land is just land.After the buyer got a hold of it they found out it's not sub-dividable (and not even buildable as is) because the lot was too small after including the required setback from the cliff.Long story short, buyer sued seller and sellers agent, buyer ended up winning because the decision was the seller and the agent made false representations on what was being sold. 

This section implies that it's possible for FHA.  

I don't mean to imply improperly or anything like that but suffice it to say, they are a tight nit group.

This assumption is favaorable to the appreciation camp.This implies a 3.2% appreciation differential.

You still need to initiate a real estate contract and sellers will clear the title, liens but home is selling as is with no inspection, warranty implied. 

Example - $120,000 house, $1,000 per month rent, $300 monthly expense, 6% financing rate.All cash deal:  $8,400 (Annual income) / $120,000 (amount invested) = 7% returnLeveraged with $100k loan at 6%: $2,400 (Annual Income) / $20,000 (amount invested) = 12% returnObviously this implies that you have additional uses for funds such as purchasing more houses. 

But, like you imply, the lead times can be long. $0 short term is hard for many to swallow.