I have always shied away from this due to the board rules and the HOA fee's.

Housing owned by private clubs or religious organizations that restrict occupancy in housing units to their members.Second item covering their protections: the law states that the landlord needs to make "reasonable accommodations".I already own 2 small dogs, which puts me at the limit for animals allowed under my HOA.

As far as how to check if the work is permitted theres three ways I know of the top of my head, you can check sellers disclosure,you can check local HOA they sometimes have it as public files, and the last one would be just to check with the local county and you can put in a request in for any work records on the home.

@Ethan McCarty  Make sure you read the HOA completely and ask questions if you have them.

The HOA fee is a bit concerning to me.

Plus...Beyond income, look at things like their HOA bill, cable bill, water bill, etc.

If there is no Hoa and builder is no longer there, it was done in 1993.Who would confirm if there are covenants and restrictions?

The HOA is currently in the process to transition to owners as the head of the HOA.

This doesn't work in an HOA community but I don't think that applies to yours, right?

Purchase price: 300,000Down payment 20% : $60,000Mortgage amount : $240,000 (30 years 3.4% interest) Property taxes $190 monthly Insurance : $50 monthly Repairs and maintenance: $54 monthly Capex: $54 monthly Vacancy : 10% (just to be safe) HOA: $12 monthly Expenses total with Mortage should be $1,603 If I can rent this out for $1800 monthly that leaves almost $200 monthly positive cash flow.