Also, the condo association could add fees & regulations for units that are rented out. 

If it's legal, but not conforming to the current zoning regulations, then you'll need a rebuild letter from the governmental entity that governs zoning.Once you get the zoning nailed down, get a hard money loan and get the whole thing finished so you can get a DSCR loan (you're right, before they get more expensive). 

Just attended a REIA meeting where wholesaling was a heavy topic and though regulations were mentioned for certain states, there was nothing special mentioned for Allentown, PA.Just normal stuff like have proper contracts, EMDs, conduct business honestly, be accurate with rehab and ARV estimates, don't harass people, file and pay taxes.  

Lucie is the local regulations and ordinances.

Which the regulations say that the house must be owned for 90 days before proceeding.  

Obviously conventional financing will not fly do to the federal regulations on the marijuana industry.

Also curious to find out how strict FHA is on enforcing the rule (FHA agents in the bushes every other month?).

@Tiffany Miller Buying properties strictly for Airbnb is not strange at all.

I would like to refinance it asap for the appraised value but banks are telling me due to federal regulations they can only finance up to 80% of the lower value between purchase price + rehab costs or the appraisal.

This being a retirement account; however, did have a very strict set of rules of what you can and cannot do as the investor when discussing IRS rules, that was very informative.