Manny BPs have warned about the risk associated with it on this post and they are absolutely correct .

This is a big downside for our association.

Appeal is that I recently was turned down for a VA loan and the associate helping me made it sound like it was pointless applying for other loans.

Plus there could be many long term benefits associated with adding an interior designer's relationship into your network...Check out the local ASID chapter for professionals in your area perhaps ????

I've personally found homeowners associations to be one of my most dreaded and worst parts of being involved with development and new construction.

Also, the costs associated for the 1031 probably doesn't make sense for the profits on a SFR flip anyway.

Check into getting involved with the neighborhood association first then looking for homes next to alies.

I would first come up with an estimate for the amount of work needed with a contractor after reading the BP and J Scotts book on rehabbing so you have the background needed to understand what it is really going to take to rehab and all of the associated holding costs (taxes, interest, utilities, etc)Then I would make an offer with your realtor ensuring there is sufficient profit there.

These are paraphrased for brevity:- All rent is deemed a security for payment to the association for all assessments due by the owner.

My rental condos have associations that prohibit dogs over 30 pounds anyway, and they only allow 1.