If so, if he and I sign on a paper, is that sufficient ?

The Placards (which stipulate the hazardous conditions) remain on the property until I have made sufficient repairs or improvements as to qualify for a new certificate of occupancy. 

That would seem to be the easiest, cheapest fix to this.Or, if the buyer/agent objected to the specific wording in the letter (perhaps because it did not cover the issue sufficiently) ask the HOA to rewrite it.

We used 401k funds to show reserves, and that was sufficient.

I couldn't fix anything when I started, now I'm mostly self sufficient! 

Initial cost is driven by home buyers making it too high and rent is rarely sufficient to cover expences.

Double check that is correct.You might want to reevaluate the amounts you are holding for CapEx and Repairs.  15% together is probably sufficient.  

You may or may not have sufficient primary insurance, but I highly doubt your PERSONAL umbrella policy covers business pursuits, no matter how hands on you are.

I would make the decision based on the math and protect for contingencies, i.e. make sure you have sufficient funds to complete the remodel (I like 2x to be safe) and have a plan if things get delayed or the market changes to make sure you don't get stuck with the higher rate for too long.

Good afternoon,I have clients that are currently interested in a triplex property and qualify without an issue but the property itself does not pass the FHA self-sufficiency test without one of the unit’s income, since it has to be owner occupied for FHA due to one of my clients having a foreclosure on their credit that won't be removed until March of next year.