Hi Amanda, Arrowhead is beautiful, but think about what your tenants would use a dock for to see if it would warrant the cost. 

But I'm not sure if an online auction makes a difference because I do not believe the auctioneer warrants that the house is vacant. 

But there could always be circumstances warranting a shorter or longer hold period.When you eventually sell that new rental converted primary there are some changes in how much tax free profit you will get. 

Now, if the PM company is saying that the asset needs a lot of hands-on management, and they require someone to be on site daily because it is in a Class D area for instance then maybe that would warrant such a high fee. 

The board could at some point change the lax sublet policy in the future to try to get it warrantable.

It is my understanding that for investment condos, we can expect 6%+ interest rates if we insist on a 30 year fixed rate from the few lenders who will even consider non-warrantable condos.

There as many denial reasons as there are reasons warranting a mod but you can't get one if you don't ask for one.

Generally, I wouldn't recommend this, but it is warranted solely based on the area and clientele you are catering to. 

Would they still do overall title search to identify any issue before current owner even though the owner don't warrant it?

And if he doesn't pay I call judge and they issue warrant for his arrest.