You are essentially creating another job till you stabilize the asset (if not stabilized already but still doing the coordinating of maintenance).

@Robert Johnson III think that type of ordinance is BS.  

Some aggregator sites don't differentiate between condos and co-ops so you could be looking at a co-op with an unusually high maintenance. 

Each city has its own ordinances and their interpretation of the state law. 

There is an oridinance that requires the CU report to be issued BEFORE the property is offerred for sale by the bank, but the banks do not follow the ordinance and instead risk the $10K penalty by not complying with this law that is supposed to protect the buyer of a foreclosed home.

I'm getting a HELOC on a paid off vacation home I 50/50 co-own with an elderly, health-compromised relative whose credit is MUCH better than mine currently and plan to use the proceeds to completely pay off higher interest debt as well as acquire my first property or two.

In October 2015, owner dies and there is nothing recorded with Jeff Co Probate.

This could be a good option but you will need someone to pay it to, like a service co or a vendor. https://www.plastiq.com/how-it...you can probably use PayPal too but then again you will need someone to pay it to. 

There will also be parts that have to be constructed on site so there needs to be lots of coordination in both the design and construction phase.

I am mostly interested in buy and hold and BRRRR strategies focusing mainly on up-and-coming towns and municipalities in Colorado.