Regardless of what your state approved purchase agreement states, All banks, HUD, FHA, etc. have addendums (5-18 pages worth) that override the state contract and specifically prohibit the assigning of contracts on their properties.

Some ideas from others: · bank loans are not available on some types of properties · the tight lending climate has made bank financing "out of reach" for many · seller financing is an "age old" tradition based on private property rights · these rules would prohibit even partial seller financing - i.e. a "seller second" · according to HUD's "Residential Finance Survey" in 2001, roughly 40% of all non-farm residential properties in the US are owned free and clear · an estimated 6 million Americans own a property other than their own primary residence · an estimated 4.5% of Americans own three or more properties, many purchased solely as investment properties · 40% of non-owner occupied residences are mobile homes which are more difficult to sell with bank financing · approximately 5% of homes in US are for sale or for lease... seller financing may be key to liquidating this inventory The continued success of our industry as we know it is threatened by these proposed regulatory changes.

., a quick search came up with this - https://www.adirondackdailyenterprise.com/news/local-news/20...The law will prohibit the issuance of new unhosted STR permits in residential neighborhoods, among other new measures that elected officials say are intended to preserve the Lake Placid community while still inviting the economic benefits STRs bring to this village...So that probably means that commercial zoning and the like will be the only way to do it now.The article said there would be a 5% tax on STR as well, so that means it is still doable, just have to watch where it is located.

I prohibit it for all of those reasons.

AJ It sounds as though you may already have violated the co-mingling of funds that an LLC protection prohibits.

But also remember that you hired an attorney who has told you no...your loan documents may prohibit it and if so, it's prohibited.Hope this helps...

A 1031 can be prohibitive, allowing 45 days to identify the property and 180 days to complete the exchange. 

You may find investing in your area is cost prohibitive.

Handyman services are becoming a thing of the past, as Florida continues to prohibit unlicensed people work on your property.  

The funding fees and minimum holding time on hard money are prohibitive.