Lesson learned.I work full time, while my wife works part time. 

HOA-$410 MONTHLY-OUCH Current I work for a fortune 50 But plan to make real estate my full time after 5-7 years.I’ve been a landlord before for 12yrs went through divorce and starting over.

It can trigger the "due on sale" clause and a lender could demand you pay the loan balance in full.

@Jason DiClemente Do you have to purchase a house in full before you can Rehab?

If you're buying at full value it doesn't matter much. 

We have multiple projects that we are working on, ranging from full gut reno's, to smaller fix-and-flips, that we could use additional contractors to expedite and grow our company.

A lot of times by taking a two-bedroom and finding a way to chop a big bedroom in half and making it a three bedroom by adding a half or a full bath, or by converting a sunroom into another bedroom or more living space, you can make that property more valuable to give you an equity spread.

If not able to share the full Note I'd take the non-recourse clause. 

The reason I can save so much is because I have a large storage space in the back of one of my buildings (that my PM co rents from my bldg entity, of course) full of basically everything I need to keep me going. 

I have experience in the full life cycle of taking a piece of raw land all the way to occupancy of the end user.