Violation incurs not only penalties under the Property Code (return of all payments made by the buyer including monthly payments) but potential liability under the dreaded Deceptive Trade Practices – Consumer Protection Act (“DTPA”) which can involve treble damages plus attorney’s fees. 

I would add that with the wealth of information on the web, you can practice just about everything, up to the point of going through with the purchase.Pick a market, and start farming it remotely.

If they did...they would put at risk their license to practice their profession, which is considerably more valuable than that property.

Seems like there would be a niche for some RMLO to make a practice of facilitating seller carry backs..

My first investment property was a 7 bedroom home across the street from a local university that I was selling (as their Realtor) for some clients who had used this to house their own kids as they went through college across the street.  

If practical for you, offer them a monthly lease.

If your governing documents make the association's insurance the primary then your individual homeowners insurance is going to pass you off to them and in which case, you would be responsible for the association's deductible.Sometimes governing documents are vague but this is pretty standard practice across the nation and this industry.

In ten days, my realtor rented it to college students, with their parents co-signing the renters agreement.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

I have a college degree in business that had real estate emphasis.