Most out of town traffic drive through town and rarely stop.There is an initiative from the CRDC (local non-profit) that is buying up junk properties and rehabbing them, but they have restrictions on who can purchase them.

Your first step is to secure financing- restrictions have gotten tighter since Covid.

Buyer may, within 30 days (30 if not specified) from the Execution Date of this Agreement, conduct due diligence (Due Diligence Period), which includes, but is not limited to, verifying that the condition, permitted use, insurability, environmental conditions, boundaries, certifications, deed restrictions, zoning classifications and any other features of the Property are satisfactory.

She informed me that the banks recently created new restrictions in response to the COVID crises, making it almost impossible for the self employed to get approved for any kind of residential financing.

Any of these types of restrictions on landlords are ultimately only going to make it more difficult for tenants to find affordable housing.

Thoughts on this for buy and hold any restrictions on this?

From a lending perspective it is not illegal to rent out rooms, assuming you live there, but most counties have restrictions on number of non-related renters you can have living in the same dwelling (i.e. shared space).For example, in Baltimore County you an owner cannot rent the same dwelling to more than two unrelated occupants.

I will also caveat this reply with the fact that I am aggressive when enforcing the rights, obligations and restrictions under any lease.

There are restrictions on the number of unrelated parties living in one household.

Is there a restriction on how long a unit in the complex can be rented, e.g. 2 years?