My situation is that I graduated from pharmacy school 3 years ago and declared bankruptcy shortly after.

I received the HOA declaration today as well and as I am concerned with the legality of one of the by laws."

I am a realtor ( Tenant knows it well, and I would declare it on contract, as per the code requirement) . 

@Jill DeWitHi Jill,I'm trying to obtain a list of homeowners that have recently declared bankruptcy.

A much larger % of properties were declared sold than we thought there would be.

LA is actually even worse than the state because I can't evict for Covid reasons 1 year after the emergency declaration ends.

According to the lender, in order to use rental income to help us qualify we have to have rental income declared on our last two tax returns and we only have it on last years.  

If I declare bankruptcy then my wages cannot be garnished either.It may work better for you to have both of you own rental property, but you might consider only you owning it and keeping your primary house and paid off units as tenants by the entireties.There is a lot more to this, I have given a pretty simple version, but hopefully you have the idea.

Ask your tax professional but yes, that's income you need to declare if they pay to reinstate, regardless of whether it touches your hand or not, unless its structured somehow differently, that passes IRS sniff test.

I could tell you more if I were to look at the declarations page, but it definitely sounds like you could use to have your coverages reviewed at least.