We submitted a short sale package to his lender and they approved him for a FHA Waterfall modification with a 3 month trial period. 

2) Did you intend to operate it as a short term rental, but then plans changed once you learned the CCRs only allow terms of 6 mos or more? 

How is short term rental business out there?  

We want to go for another real-estate investment (we are doing buy and hold..buy low, renovate and make them short term rentals on airbnb in Ocean City, Maryland).

I like the idea of short-term rentals, and I am wondering if I would be better off buying several smaller, less expensive units, or one larger, nicer unit.Those of you with experience in the Airbnb Marketplace, what are your thoughts?

You are not too familiar with the area, so if your short-term stay is near an airport you have less travel time and can spend less on taxis.

Any tips or ideas regarding forms or documents I should give them shortly after close?

The short answer, Chris, is that as long as we hit the hurdles, I'll sell at any time.

My family member is about to lose her house to a short sale.

Short term goal is to buy my first property before 2019.