I currently am a Registered Nurse and Licensed Long term care administrator with a couple rental homes for a side business.

There may be a lot of issues with heirs or beneficiaries or debtors and you don't know what the circumstances are.When your scouring your local adjudicated newspaper, in the legal notices section of the classified's the probate that is published, the administration process has already begun.My advise is to look for those estates where there is no attorney involved.

The FHA guidelines currently state: Loans beginning at 90% LTV or less will pay annual MIP for 11 years.Loans beginning at 90% LTV or more will pay annual MIP for the complete loan term.This means that home buyers using the Federal Housing Administration's 3.5 percent downpayment program will pay annual mortgage insurance for the loan's full 30 years, regardless of whether the home appreciates to the point of having 22 percent equity or more. 

With most other cities you would be able to pull permits administratively.

It looks like they will allow sublets but at an extra administration fee and subject to their acceptance of the tenant.Since Thomas had mentioned in this thread that finding a community owner who is open to rentals can be difficult I thought I’d post on this forum to see if anyone has had any luck convincing a community owner to allow rentals or if someone has come up with another strategy that is typically more acceptable to the community owners.Thanks in advance for any suggestions.

Now, I had and used a lease that allowed administrative charges on an hourly rate, that was in consideration of the slightly lower rents charged.

City administration is in a bad way, declining tax base and shrinking jobs... not a good overall picture.Richmond and the surounding counties have much more to offer IMHO.

His time is money , are you going to reimburse him for his administration time dealing with this ?   

Loans trickle through banking operations, they effect legal compliance with their loan requirements, FDIC insurance premiums paid for coverage, private mortgage insurance, deposit requirements, reserves for loans and what they call "classified loans" in examinations.....it messes with the solvency and administration of that bank/lender having loans that have changed loan status.When they made a personal real estate loan, they didn't underwrite that loan with any business exposure to it!

This type of arrangement would impact that, which may not be a big deal, but is something to consider.I believe you should get a premium if you move forward, some extra amount to reflect that you are taking on extra administrative work and risk.