I've seen many master planned communities from start to finish hence my interest of becoming a home builder along side my father.How did you find this deal and how did you negotiate it?

Liked it so much that when we found a single family with an upstairs master suite we created a kitchenette and rented out (induction anyone?

I did a master lease agreement with the owner of a house.

So I would just work with a lawyer to draft a master lease and limited POA?

If it is not covered by the master policy of the association then you need to contact your agent and have them put in a claim for you.

Added finished SF, Master bedroom / bath.

The main issue was the back master bedroom was too big and had the only door to the backyard.

there are certainly ways to protect yourself in this situation.State of CA came out with a great vehicle its called a All inclusive Deed of Trust you can google them and see how they read and protect your position in the transaction.short of that you could hire a specialty servicing company that you pay the master payment to ( oops  Primary Payment )  and they cut the check to the sellers lender. there is no question that there has been many and investor get royally screwed by folks collecting the payment from you not paying on their loan going for as long as they can then just walk away. those mainly by folks who bought sub too and sold to you on a wrap and the mortgage is not in their name..

You can adjust the language to fit your personal style after you've mastered it.

What is the Deductible on the Association's master insurance policy?