Whenever dealing with condos, the short term game (even month-to-month with different tenants) can be tricky and you can trigger the discussion for the HOA board.Conversely, if you have a condo that faces the street, then MAYBE you can get away with it as it is less foot traffic in the complex.

Usually, the due on sales clause is not something to worry about on a preforming note but you should still be informed of the risks and consequences of triggering the due on sales clause.  

And then you need to be actually able to pull the trigger on purchases in that environment.

People will purchase them through a bank, but they cannot transfer the property to an LLC for fear that the transfer will trigger the acceleration clause in the mortgage.

the rental market analysis  is around 1200 on. the low end.... and the lease isn't done until march 2023.. with this being my first deal I am hesitant to pull the trigger on  a loss of 294 a month.  

A sale will trigger a tax event, and his cash will shrivel and die in a savings account earning less than 0.01% with inflation over 8%. 

I don't think there is ever a "perfect" time to buy, so at some point, you'll have to convert your research and studying into action and pull the trigger.

Hi Leslie,Keep in mind before you pull the trigger on a hard money loan, you have other options. 

But then again, almost ANY electrical work of consequence is going to trigger some things like requirement to bring everything up to code.

This has triggered me to get some skin in the game and start to look at investment opportunities.