@Rory Gray - Account Closed is right...Getting the deals is the hard part.

Technically this is not "income" or cashflow...but you're house hacking so it's kinda a gray area!  

I've been browsing the forums for a while now and I can't even begin to explain how many of my gray areas have transitioned Lol...it amazes me how genuinely helpful everyone is and how much knowledge is just floating around!...

This is definitely a gray area in my opinion. $250 a year is minimal but it would appear they are using fees and fines to punish investors or detour investor owners without formally passing a rental amendment.

You also provide a very tangible service, housing...a nice change from abstract jobs where the deliverables aren't as clear...Granted, you can't control some market forces and even real estate has gray areas (like you do to all right but still run into issues ) .

I recently bought a strip center in City of Gray, GA which is basically vacant with only 1 tenant, but the water and sewer bill was around 600$ (the usage was well within the allowed 2000 gallons for the base charge).

In the long run something is going to go wrong and I wouldn't be surprised if The SEC makes an example out of those operating in the gray area of the law.  

If you are gutting kitchens & bathrooms, opening up walls, altering the floorplan, relocating or otherwise upgrading plumbing and electric, and then the plan is to immediately flip the property and you don't wish to get sued into oblivion after the sale if anything should go wrong, then yes, pull permits and used a licensed, bonded general contractor.If on the other hand this is your personal residence and you just want to paint, change some trim and flooring, and freshen up the bathrooms and kitchen without gutting or moving stuff around, then you may be ok without permits.There are many shades of gray between those scenarios too ...

Its so confusing and tangled, that they use the leverage of "gray area" as the offensive technique.

I switched from "builder beige" to using light grays.