What rules and regulations did you have to follow?

If a new purchase buys it does some things go away with grandfathering with the business where new regulations kill profit and make it cost prohibitive to run??

Also, under the "new" {which are really the old} mortgage regulations you have to qualify for a 25yr (or less) amortization at a 5-yr term, fixed rate mortgage ... regardless of the actual mortgage you take in the end.If you are open to moving outside TO ... north or west to someplace on the edge of the sprawl, you may find a house or multi-unit (my recommendation) that you can afford.

You should also consider on how to revise your rules and regulations and by-laws.

I NEVER outlay any of my funds for a customers project , strict payment schedules , written scope of work , changes in writing .

But I believe his tactic is still to get around SEC's regulations.Is this three times meetings first an SEC regulation ?

I’ve seen duplexes lower than $200,000 that are “homepath” – might be best to seek out a local agent who is familiar with this stuff.The only issues with these deals is regulations (which are good and bad), you will need the money, cash reserve of some sort as well as tax returns, etc. to qualify.I purchased the home next to me on an owner contract for a very good deal as it wasn’t for sale and controlled by a family trust that just needed some creative problem solving to get rid of it.

How does the bank know if you are buying it as a owner occupied or strictly a rental ?

I am grateful for the HOA and there are valid reasons for the rules and regulations.

It is my understanding that the old school "Lonnie Deals" are essentially dead due to the Dodd-Frank regulations coming down the pipe.