IMHO anything other than a clean contract negates or nearly negates the premise we are operating under- which is a bird in hand is better than two in the bush.  

Marie P: Just out of curiosity: did you post here in the forums about buying that property or working with this TK operator?

I just relocated here a year ago and am ready to ramp up our operation if you know of someone please pass there name on to me I will be eternally grateful thank you

Not sure how things operate in Arizona, but I'm sure the process is similar for most HOAs. 

I paid my attorney $500 for a strong operating agreement semi-tailored to what I am trying to do.  

I work a wholesale operation in Okc.

There are turnkey operations in San Antonio?

The turn key operator you choose is critical.

That you believe this to be how RECs operate shows that you know very little about how real estate is regulated at the state level.  

I have a very successful and profitable business in student rentals and will provide the buyer with the information and guidance to make this property an ongoing financial success, including advice after the closing if wanted.Estimated Financial InformationPrice$164,000 Monthly Rent2,520 Annual Rent30,240 Utilities (water)($480)Current Taxes($2,640)Repair / Maint (7.5% rent)($2,268)Insurance($1,000)Annual Operating Income23,852 Closing Costs5,000 Mortgage (80%LTV)131,200 Total Cash Invested37,800 Monthly Mortgage Pmt @ 4.5%, 30yr($665)Annual Mortgage Pmt($7,977)Estim Net annual cash flow15,875 Cash on Cash Return42.0%Gross Rent Multiplier5.4Cap Rate (NOI / Price)14.5% So here is my question:Is is reasonable to rent student housing for 12 months a year?