Kevin,I would avoid anything over 4 units for now because it opens up a lot of requirements when it comes to the underwriting approval.

@Marysue ConnellyI'm not a lawyer and this isn't legal advice.Currently, if you want to discontinue a lease that is expiring, you simply need to provide a written notice to vacate to the tenant with the appropriate notice period - our lease agreement states 60 days unless a lease is month-to-month, Colorado law typically only requires 30 days notice.

Bylaws and rules can often be changed by the Board (depending on what the higher documents require), while the CC&Rs and Incorporation docs are intended to be more difficult to change and often require a vote with a super majority of all owners to change. 

The difference is if you switched lenders and that lender has certain requirements that requires a renegotiation, then you might have a problem if the first lender doesn't.

They require a lot of capitol as well as cooperation from the local city and/or county. 

Hi Bob,Make sure to have an investor friendly realtor so that you won't have issues afterwards.HOA are very tricky, as the boards change very often, they could be years that they don't do much and other years that they are suing residents if they are not maintaining the lawn.CC&R are the key to review in this case, those are public so available for you, and those are required to be provided by the seller every time.Don't go the route of do it anyways, that will have cause you consequences, I had a time that the HOA sued a property owner just for missing 6 months (the property owner was renting out the property and it didn't receive the invoice to pay the dues so she forgot).

Having a toddler now has fueled and accelerated or desire to make some actual moves towards this goal. 

No borrower financial information is required. 

Many of our first time investors utilize seller financing because it requires minimal downpayment for each investment property.

She was the main contact in terms of any additional requirements from underwriting.