@Blair Matejak and @Brie Schmidt, if the condo declaration is currently silent on rental restrictions, you have the right to rent out your unit.

It is truly remarkable the amount of frugal muscles I have developed.Thank you too @Mindy Jensen for having guests and helping spread the word of financial independence.Not all heroes wear capes, some have podcasts! 

Recorded deeds must include a declaration of the sales price.

She mentioned declaring bankruptcy to stop the foreclosure but I know I read (here I think)  that while it would do that, it will cause other issues.

Pay off the loans and tell the part of you that wants to do the next deal that when you hit the inevitable bump in the road, that all investors hit, you will not only lose your properties you will also lose your personal home as well and end up declaring bankruptcy.

In the old tax system, my understanding was that home repair expenses could not be declared until the property is actually rented.

And if he/she files your taxes appropriately and declares your rental income and depreciates the property you will be committing fraud.Your primary residence is where you live. 

In the Property Disclosure -> Covenants, Fees and Assesment section, the seller marked YES to Q:Is the property subject to a recorded Declaration of Covenants, Conditions and Restrictions (CC & R"s) or other similar restrictions.No explanation notes were provided.

Not a lawyer although in this instance I do suggest you get one and sooner rather than later.1) Someone can't just declare "I have a prescriptive easement" and it is so.

This is the conundrum that every investor is in and the answer is that it's an issue.The way to work around it is to prepare your taxes for a couple of years without the "optional" items that you can declare.