The exemption is for protecting small multi-family homeowner's from the woes of a bad tenant and creates flexibility in finding suitable tenants, who thus, are living in close proximity to the owner.

If you provide a washer machine get new stainless steel washer machine hoses with burst protecting check valves inside of them. 

A good long term tenant is actually an asset worth protecting in many cases.

It was a very busy time but it was also a very enjoyable experience .My dad came to Roanoke every weekend and helped me build the house so I got to spend a lot of quality time with him and learn a lot about construction in the process.

Spending $100-$200 is by far your best bet, it could save you a $100k mistake.

As to HOA debts/liens when the bank buys it back at their own foreclosure auction.....the bank is protected by the Safe Harbor statute passed in 2008 I believe.....they owe only 1% of the original mtg or 12 mo.s of dues, whichever is less, and the HOA has to accept it as full payment. 

I buy property with the intent of surviving a serious down turn by buying Subject To and selling to Tenant Buyers which protects my long position.

Hi Lexi,The end goal is to pass off the property management when I want to spend less time on my investments but for now I’m keeping my costs minimal.

You have $25,000 of that $58,500 in escrow for your rehab that will only be paid out in draws as this protects the lender from you taking the funds and moving to Canada or giving a smooth taking GC a $24,999 down payment.

We actually toyed with the idea of renting year round once we knew we'd spend a few months down there so that we had a place to run off too any time.