The IRS has consistently ruled against this kind of relationship.

Or did you use rules of thumb? 

In addition rules around guests can be important.

C neighborhood.Repairs/holding costs: $17,500All in:  $20,500Rent comps: $445CoC return:  10.7%1% rule:  2.2%Actual cash flow:  $183/moIt's 100 years old, so I'm factoring into my expenses10% Capex, 10% ongoing maintenance. 

Some HOAs put restrictions on the number of rentals in a given community (such as 30% of the community can be rentals while the other 70% must be owner occupied), and once that limit is reached, the HOA won’t allow another rental.  

Dan going forward I will not work with Touchpoint Property Management especially since they find it inconvenient to follow the rules and regulations that have been in place since 1984 and insist on insulating the Board and its members including me.

That seems unlikely, but what do I know.Buyer's intent is to purchase property, convert entire building to living space (which, according to deed restrictions, just means insulated and conditioned space), and then refinance in 6 (conventional) or 12 (FHA) months to pay off owner-financed note.

If there are a lot of tenants searching for rentals that allow pets, it is best to cater to them with whatever limitations seem fair (pet age, breed restrictions, size, etc). 

Each state has its own rules.

In my lending life and still as an investor and realtor, seems like everyday I use the phrase "money comes with rules attached" for absolutely every type of housing and also every type of buyer.