However, in many cases you likely won't be able to obtain by-laws until you are under contract.I would have your attorney include a specific "HOA" rider in the contract for this exact reason- It basically would require that you have ample time to review the governing docs of the HOA, such as master deed, current by-laws, current year’s budget, and last two years of audited financial statements, association meeting minutes, etc. 

Once mastered, though, and I'm not saying I have at all, it does seem even more passive and easier to extend OOS than rentals.

Purchase price: $60,000 Cash invested: $40,000 Sale price: $125,000 Fix and Flip in Louisville Kentucky.This was our second project in Louisville and it was masterfully done by our crew.We were in there the moment the house closed and our investor was able to sell it in less than 5 months.New roof deck, kitchen, bathroom, flooring, paint.

This is great business.This thread is good though, because all Title master is willing to give answer for the question with lot of details !

So now you have 4bedx2 house and one master. 

@Jack B. if that is what you are looking for, look into Business Development Companies (BDC's) and Master Limited Partnerships (MLP's). 

I actually just did a renovation on one of our properties and split the master closet into 2 separate closets. 

Do you have a master key that will override any programmed code? 

You will make several mistakes starting out and will only be worth it if you then continue to refine and master that specific strategy.

For the LLC i highly recommend doing it on zen business.