A 2 +1 is a legal 2-family with a boarder unit that can be lived in by the owner, usually without a stove and you want to make sure the bathroom is permitted.I hope that helps.

Credit score shouldn't be the primary driver of tenant approval, because if they could qualify for a mortgage they probably wouldn't be renters.

Leverage the Power of LLCsEstablishing a Limited Liability Company (LLC) for your real estate investments can offer both legal protection and tax benefits.

Hey Santosh,As of right now you're extremely exposed regarding insurance and I'm going to assume legally as well.If the home isn't registered as a legal multi-family with the town that's something you'll have to correct ASAP and make sure the home is up to code.Insurance wise as soon as they find out what you're doing they'll cancel you as the risk has changed from a single family owner occupied home to a multi family owner occupied home.

Just a worthless piece of paper that validates a promise (legal obligation). 

I have talked to the park management, and they said current owners do allow renting out as a rental, but the tenants would need to be approved by them. 

If HOA by laws state past due owners are responsible for all late fees and legal expenses for collection hire an attorney to go after the past due. 

The front end can sometimes be tedious to get approved by the local housing authority, but rent payments are always timely.

I would say get connected with a local agent and also set up with a lender that has you pre approved to make it super easy making offers.

That might even be enough to make it hard to be hired by a traveling nurse agency.BTW, I am not a lawyer that can give legal advice.