You will want to change it to a landlord policy.Read your local landlord/tenant rules to make sure you cover things the state expects rentals to have.

The biggest difference between a townhome that has an HOA vs. any other props without an HOA are the bylaws & restrictive covenants.Some HOA's have investor caps & rental rules for short-term, etc. 

Even after a $40/50K (generous estimate) rehab you can cash out re-fi, pay yourself back and your investors back and still hit the 1% rule.

Ohio rules!!!!! 

Cash Price and should have been an easy reno How did you find this deal and how did you negotiate it?

Also the $500,000 rule is for those of you living in California which makes much of work profit the state.

Hey @Safwan Aziz - both of these things aren't easy, depending on which location you're focused on. 

other than the obvious land use rules. ( is this Oregon ).the main thing we found when looking at land to do a park on in Oregon was Absorption.

Keep in mind that any traditional lender will have rules and limits for how much the seller can finance in addition to their own loan, so unfortunately it's not possible to combine the two for 100% financing or anything close.John

You can create your own LLC it's easy to do.