Became unable, because of a change in employment status, to pay basic living expenses for the household (including expenses for food, clothing, housing, medication, transportation, taxes, court-ordered payments, and expenses reasonably necessary for making an income).

After he came by a few times and showed some potential buyers the property, we have yet to here anything from him in the status of the sale.

The co-borrower relationship must be used for an occupying borrower when taking advantage of the family status rule that allows the maximum FHA loan amount.With that in mind, the FHA requires the co-borrower’s signature in part to keep the system honest.

I think your husband is an admirable man, going against the status quo.

If someone bought last year before the raise and were not aware of the financial status of the HOA, your cashflow took a major hit after the increase.

I'm sure you have already taken this into consideration but just in case:  have you included the costs of bringing the property back to non-condemned status and removal of code violations?  

If I were to finance it as a single family residence would I lose my grandfathered use status?

I know people who give 2nd mortgages who are no where near accredited status.

There is a pre foreclosure that has had its auction date pushed back several times over the course of a year or so.  The last updated auction date was supposed to be last week.  A call to the Foreclosure Trustee agenc...

@Toby Russell there is no tax benefit to utilizing an LLC except for the fact that it provides us with flexibility to later elect the S-Corp tax status.