The rule in this case would have been little misleading adding an additional $1,700 in expenses that don't exist.

our board came new rules and regulations without a vote of the association members.

Your only salvation might be owning a particular phase of the project that might be peeled away by lenders, but don't bet on it as the problems arise through the HOA of the PUD, if it is a PUD.As to slick thinking circumventing lending regulations....with multiple entities....bad idea.

If not with increased management fee you are looking closer to 60% to 65% cost and not 50% annually.Tenants not directly billed bu the water authority use about 30 to 35% more water monthly and do not report water leaks.If the tenants are not paying then you will have months of lost rent,damage to the units,and reconditioning costs.You need to pay close attention to the EXISTING tenant base going in.Run your own checks on them.The existing landlord might have just filled the building up to dump off crap tenants on someone else.The fact that this property has changed hands so frequently leads me to believe it has serious problems.People get think they get a deal and then want to jump off the burning ship quick before going down.Check title history chain and see if you can locate previous owners,their attorney etc. on documents.You can also look up if a previous corp bought it and the controlling officers.

The attorney will tell you how to use the state regulated contracts and addemdums.

So, are you thinking that a tax or other foreclosure wipes out existing easements?

In a lease option, if it is just a lease until someone uses the option to buy.. in the lease option period.. how do the bank know the lease option exist and call the loan due if nothing is recorded with the city during lease option agreement?

Free and clear means there is no mortgage on the property at all, or other liens.Subject to means you bought the property subject to the existing mortgage.So it can't be both ways.Are you perhaps saying YOU didn't take out financing, but the lady still owes a mortgage?

-Steven the Tax GuyYour guide to IRS laws, rules and regulations.

I'm reading it, but seems to say an existing home is like kind to land, seems to me that says you can sell the house, exchange it for a residential lot or land to build a home, which makes sence.