I'm just trying to understand the general situation, not looking for legal advice or an answer in a specific situation at this point. - standard disclaimers about questions apply.Thanks very much.sw

Just know your basics and what you can and can’t do legally and your good.

The sellers got the HOA to send a letter approving my property as a rental, until I sold it, in which case it would transfer to the new owner, if they/I applied for transfer.

Get pre-approved with a lender first.

I know some states require a broker's license to be able to legally manage properties owned by other people. 

So here’s my situation..I am about to graduate college and will be working in my field full time in order to be approved for a mortgage and financing to pay for renovations for my first flip.

The question is would this be a legal use, as long as I have proper documentation, or would this be seen as intermingling funds?

In rare cases, the BK courts would put a trustee to manage the asset in place but, you would receive legal notice from that trustee.

She has agreed not to break the lease and have subletters, can we legally evict?

It also wouldn't hurt to get pre-approved for a mortgage to see what rates and amounts you can qualify for.