Steve Newlin CPANewlin and Associates, LLC

I am on the board of my condo association in Hagerstown, Md.  

Also would there be any points or additional closing costs associate with the hard money loan? 

Can you get to know the local association attorneys and work out a deal with them to purchase the home?

It is prohibited to allow your pet to produce waste on any lawn/turf area within the association.

There's the Realtor dues with local MLS, State association and National association of Realtors which is mandatory, lockboxes, signs, professional photos, staging, E&O insurance, broker fees and more...The list is never ending of what Realtors have to pay...

The mls is controlled by NAR so you need to be a paid member of association and be able to have lockboxes after you have been finger printed and have steep realtor insurance. 

Single family ranch, 3/4 acre lot, septic, 8 year old 3 tab shingle roofPurchased: 2006 for $140kOwe: $100kMortgage: $543Taxes and Insurance: $205Expected rent: $1200-$1350Tenant would cover utilitiesThere are no association feesI will have a property managerI am guessing 3-5 years before predictable large capital expenses arise.  

look up landlord tenant laws for your state, and research.Check local landlord association in your state or county they may have good lease template. or you could google one or get one drawn up by a lawyer

The usual risks are associated with this, I'd say real estate in the area is fairly hot right now, so I could possibly be purchasing at a premium compared to what it might fetch in 3 years if there is a market down turn in the area.