Hi Steve, I know the thread is a little old but I'm in a very similar situation to your example above except that I am also putting money into the deal...

Would not recommend for selling except in certain circumstances.

For example, do you need a license to lend money secured by real property in California (answer, yes, with some exceptions).  

Hi all, I was looking at a $80k house that's in OK shape except for a hole in the one of the ceiling and an odd small patch of mold in a damp spot in the basement stairwell, not a from a leaky pipe in a ceiling.

And views by and large are not important its more where your at on the golf Course.. then the older area of PS.. from what I saw there .. view properties are limited except Hope's big house.

I am not sure why Escrow said he cannot be owner and Beneficiary, except they may never have seen it thus far.Randy and I will be doing all our deals together, so we feel it is best to figure this out and get whatever Lending doc we need drawn up as template so we can secure him as the lien holder on any deal.I really am curious and will research more as to if/why or why not he can/cannot be a owner/lien holder on DOT.Will keep you posted on results - remembering we are in WA, so we will see.  

I honestly see no benefit other than higher higher DTI limits if you needed them--up to 55 percent with strong compensating factors; otherwise, same guidelines as conventional loans except paying an interest rate premium for the Homepath product.

The LLC would essentially be treated like one started in CA, except there is even more paperwork because it's a foreign entity.

There are call-outs for specific hardship exceptions like inheritance and employment relocation, but approval for these exceptions are also at the discretion of the board.At the time my partner inherited the property, we were mislead by the then HOA Board President into thinking that given the manner in which he came to ownership and the fact that we live out of state, he would be granted the ability to hold the property as a rental into the future.

Then have a series of exceptions for certain kinds of signs or a process for getting a sign permitted.