If it's local or regional they might finance you with enough down and keep it in house for a little higher sales price.The big banks usually just want to dump it for cash.I would buy in a commercial area if the right conditions existed.Is the property management company the bank has employed hispanic??

I will want to insert clause in the contract allowing me to get out in case HOA has restrictions on number of rentals, but wanted to check whether it is common?

The common thread to all of these projects are that there in locations well-suited for commuting and are aimed at the higher-end or luxury demographic.In my opinion, with interest rates low, I think it can be a good time to build if you have a good location and demographic.I am personally looking into new construction opportunities and in the process of putting a JV together.

HOA only pays for common ground grass maintenance.

This is a common bait type post where they wet your appetite and see if you bite.

But I hope you thoroughly checked her credit, employment, etc. on your own.

(this is usually NOT the best course of action)All the attorney will do is hire a collection company that has more bark than bite and rarely collects any money.The other option is to use a judgement recovery company.They usually pay the court costs and filing fees and then split 50/50 of whatever they recover.Sometimes they will buy the judgement outright for real cheap.In this case you get your cash right away and move on.Judgements depending on the smarts of the tenant can take 3 months to years to collect.Some tenants are judgement proof.This can happen when:1.The funds are retirement funds in a bank or social security where money can't be taken.2.The tenant works a job where their income is at a level where they cannot be garnished by Federal Law.Even when you can garnish you can only take 25% each time.If their are other judgements already garnishing then the 25% gets split up among the garnishments.85% of judgements never collect a dime because of the work involved.Even if the judgement company you employ chases the tenants for money the tenant may pay or they might just file BK if they have other debts.A chapter 7 costs thousands so it would depend on their other total debts and how much your judgement is for.This is why it is important to carefully screen tenants.They need to have good credit,a good job with long work history,etc. or something where you know you can collect if they default.If you have multiple tenants staying in one place and they all make minimum wage it will be hard to collect on them later versus one person showing great income.Hope it helps.

They were the very first app so I didn't charge just because I already knew the answer based on the dogs, but I still wanted to go through the process for practice.The next applicant had golden 5 year rental history, although only 6 months (verified) at current employer.

It's either $1,000,000 or $500,000 in a targeted employment area and you must "plan to create or preserve ten permanent full time jobs."

The answer is always the same (or should be) and that is, YES, BUT IF you buy right, know your market, and have a plan and means to execute it.The "R" word is a common word that comes up, the truth is, risk can be mitigated with the right strategy for the area and the right price for the investment.What do you want to do?