The sponsor received: - An Acquisition fee (1% of purchase price)- An asset management fee (2% of gross collected rents),  - Cash flow and gain on sale was split 80/20, respectively between investors and sponsors. 

Call center is around $200 per month and its based on calls received. 

I would like to connect with investors  in the area and receive some guidance through this.

And I received a 22$ check at closing.

@Mike H. keep in mind the reason for the "no renting" rule in the HOA is the occupants perception that rentals will decrease their value or will not receive proper upkeep.

@Chris Sukala If this is a foreclosure auction with the county you will be receiving a Certificate of Title which should be sufficient to prove you are the new owners.

The replacement property received must be substantially the same as property identified within the 45-day limit described above." 

I paid that prorated rent in full and never received a notice or anything that I hadn't paid for the full months rent. 

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule: The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 25% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information: Signed Draw Request by borrower and contractorSigned All Bills Paid Affidavitreview and approve the draw request and will release funds for disbursementA check will be issued in the name of the borrower and contractor and delivered to borrower via USPSAn inspection of work to date will be performed at 50% completeFinal Draw Information: Signed Draw RequestFinal inspection/Completion Certificate will be required for release of final fundsA Title Update showing property free from lien or encumbranceGeneral Contractor’s Lien Waiver AffidavitAffidavit of Completion GMG will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns: Changes to the initial plan are not permitted unless prior approval by Gateway Mortgage.

I received an email with "unpaid" taxes from the county along with a lengthy explanation that the attachment is not delinquent (after I asked specifically) taxes owners.