I would first obtain your attorney's input, second based on that challenge that the restriction includes STR and then meet and discuss this with the members to let them know enforcing their interpretation will likely result in their losing (assuming that's the case). 

It is very difficult, more accurately, impossible to catch tone in text, therefore, misunderstandings can often occur.After reading my own post to you, I can see how you may have interpreted my comments that way, just know it was not the intent.

In practice (at least in several of the auctions in Cuyahoga, Medina, Portage, Summit, Stark, and Franklin counties), I've never seen that minimum to be interpreted as less than 2/3 of the value of the property (neither in any of the county auditor's printed materials, nor in any of the sherrifs auction ads in the respective local papers).

No rental income can be used.Provided you don't personally vacation & occupy the place for the first year, three years if you're being super conservative in your interpretation, it would become an Investment Property scenario.

Note that both the old (1928) AND new (1967) supreme court interpretations, 4 decades apart, agree that a "trespass" constitutes a "search."

Several ways to screen other than some arbitrary "keyword" interpretation to determine a buyers qualifications

We do not generally recommend such a strategy.There is an interpretation within the self-directed tax advisory community that an IRA or 401(k) may joint venture into a new project with a disqualified party under the following circumstances: Both parties enter into a joint venture together – i.e.

That's my interpretation anyway.  

If i'm right in my interpretation, my opinion is that the lender can keep your earnest money (If you gave one) and call it a day and move on to the next bidder.

The advice you will get from an internet forum or another investor is not sufficient in this area, as the specific facts and circumstances of what you are doing will impact how the IRS might look at this.While there is an interpretation within the legal community that one may joint venture between an IRA and a disqualified person, there needs to be no direct or indirect benefit in either direction between the plan and that disqualified party.