But it's a golden phone call so the paying agent doesn't mind the split.Between non-agents the only thing you can't do is make the fee a function of or contingent upon closing, because for regulators that starts to smell too much "like a commission". 

Buying the second unit would make me a 100% owner of a duplex that has been converted into 2 condos, so I would essentially become the only member of the "HOA" for this small 2 unit condo "complex", which doesn't really regulate anything as it is.

My only concern are the MLS regulations.

I grew up just north of Charlotte and lived in uptown for a time, I've been practicing some form of real estate for the last 7 years, whether a licensed agent, rehabbing, wholesaling, or developing. 

With regulations the way they are and not being able to market to investors; it seems the best way to find a great syndicator is to network and find folks that have had good experiences.  

I’ve been practicing running numbers on tons of properties and recently came upon an interesting listing.

If their buyers agent has done only a few deals it's really no different than working with someone unrepresented anyway because at least in PA the licensing classes teach you nothing about actual real estate practice.  

I realize every HOA will have different bylaws and regulations, but has anyone had experience with airbnb or a pad split type of strategy in a neighborhood that has an HOA?

.#5 Practice, Practice, PracticeWalkthrough potential rehab properties (or find properties virtually online) and practice creating detailed scopes of work, quantifying repairs and estimating rehab costs for the projects.#6 Get Your First Rehab ProjectYou can practice all you want, but ultimately you will learn the most about estimating rehab costs by actually rehabbing a house.

I think it can also depend on your brokerage; some brokerages have different policies that regulate their realtors and how they invest.