Hey BP,So one of the HOA's that I own a rental in is trying to pass an amendment limiting rentals to 20% of the homes in the neighborhood and all tenants and leases have to be approved by the board of directors of the HOA.From all the research I have done on BP it seems like if this passes I am SOL, and probably will have to sell. is this a correct understanding?

They asked my acquisition criteria and I don't know what to tell them because I'm still in the research phase and I know they hate time wasters.Aside from LoopNet, should I just register with a select few commercial brokerages, such as CBRE, Marcus & Millichap, and Cushman Wakefield?

Hi, Before doing any real research I purchased a two flat in Chicago.

I'm not sure what market you're in but you might want to do some research and find out if the 1% rule is common for rentals there.

From my basic knowledge and research on BP, I don’t see Seattle being a good market for rental investing.

Hi @Amanda Coleman I have quite a bit of experience with airbnb and have done a tone of research.

After much research, I realize we bought the property without enough knowledge as to what all goes into a rental property, so that was definitely a huge learning point.

@Jeremy Keefer you might want to reach out to @Dan Mackin or @Linda Weygant as they have done some significant research on this topic.

We did a little research to find out how many of our tenants have made at least partial deposits in cash and we found out 4 tenants regularly make entire payment in cash and that most of the other tenants who deposit directly to our account have made at least partial payment in cash at least once in the past year.We called a couple national banks and they have a similar policy as Wells Fargo is enacting. 

That makes me feel better about some of the property management companies I've been researching.