To be valid the units would need to be disbursed amongst independent variables, they could not all be located in one geographic area for example as one occurrence may effect a large number of units or all of them, like a tornado or flood.

In some locations there are restrictions on this. 4) Dividing out utilities between units so they can be billed separately. 5) Renting out garages and parking separately and independently.

Vet your General Contractors and independant service providers ...i.e.

(helps with financing)I'd look to see the minutes of meetings, it's a non-profit, they should be public.Minutes may indicate the number of votes, that tells you how active others are in the HOA, some never show up and the board just has a free hand, it gets political, I don't care for that, activity is much better as it keeps board members accountable.Only other real issue is maintenance contracts, are they independent or does the developer remain on the board and have maintenance contracts you can't get rid of?

Are you sure your accountant is willing to back up his advice to the IRS if you are audited?

It usually arrives after all the work is done, so you need other financing lined up.One key thing is - public money often comes with strings beyond energy improvements, so you need to be prepared for things like union labor, minority-owned business regs, prevailing wages, audits or affordable housing requirements.However, given the new energy conservation codes, I rarely consider a significant renovation project without considering if it makes sense to apply for for certain incentives because most of the necessary energy efficient requirements are in the code and will need to be done in any significant renovation.

Once again if anyone wants to come meet up with me, get to know me personally, do an "audit" of sorts you are more than welcome to.

When studying case law and precedent, it's clear that the IRS will view each individual deal you do independent of all others to determine it's own taxation.

Ask the seller and have a full slew of independent inspections done. 3.

Happy Independence Day!