But understand, the bank won't let you assign the contract, and many will place a deed restriction against resales within 90 days.

Basically, what I came down to is that you start with the general premise that absent specific legislative restriction most property rights are alienable.

- What kinds of building restrictions are there on this property?

However, there are many restrictions. 401k loan allows fewer restrictions but has less funds and an aggressive 5 year payback time frame.

Thankfully without a special assessment.Besides the costs of owning the condos, which we own for income, the other downside is the rules and restrictions.

Keep in mind, due to a 90 day deed restriction on this property, I can't transfer title until 3/13/13 anyways, so it would be another 2 months after that before we could close the deal.

They will sometimes put in various restrictions about transferring the property quickly after the short sale.

Post it online, talk to potential renters, drive down, sign contract, hand over key, come back one week later, clean up, start all over again.The plan was to not rent it out for the first 2-3 months so we can add things like beds, sofas, kitchen stuff, etc. so I guess we would provide all of this.Doesn't a hired service make it pretty much imposible to make a profit?

Pay attention to if any water shortages have been reported for the area and water restrictions put in place.

I don't believe that generating a list of addresses, sold with cash, will violate any disclosure restrictions.