Takes a lot of time and has a low success rate - but I want to do this with select properties only.

When selecting a partner though, I would recommend avoiding close friends/family as first investment properties can be a very stressful experience for many. 

. - The nonmember assumes only the remaining unpaid balance of the loan (no new money or refinancing);- There is no extension of the original maturity date beyond that specified in the loan agreement with the member;- The original loan was not made to the member with the underlying intent of having a nonmember immediately, or soon thereafter, assume the loan;- The terms of the assumption are consistent with the loan agreement and in compliance with the FCU Act, NCUA Rules and Regulations, and other applicable law.My guess is that they will initially say no.

@Wendy ThurstEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

If you were looking to immediately sell or use it extensively for personal use, or if you wanted to convert it to your primary residence you'd want to be careful of some things. 

The city should have had this responsibility.Prior to not getting one of our units selected in the STR lottery, I had contributed to a legal fund to challenge the quota. 

I have been doing some extensive research around 2 bed, 2 bath condos in those neighborhoods and looking into the building's rental policies in case I ever would like to move back to the northeast.

@Clara ConstableEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Select your team including a real estate agent, closing company, construction company etc and make sure they know your intentions for the project including timelines, ARV goals, etc.

We have the option to do more extensive cosmetic rehab to go to open market if necessary.