Yes completely basing it on Air Bnb numbers. 100% sure the building allows for it (attorney checked) and has a clause in the master deed/by laws that seem to never be able to change it BUT you have a very good point what if AirBNB restrics it or city "Zoning" restricts it, how could one find out about this?

We are looking to continue investing with the cash out but can’t seem to find a lender in central Florida that is willing to work within these restriction.

A lot of condominiums have rental restrictions.

Salt lake county just passed an ADU clause that has some restrictions, but it sounds like with what you want to do might be right up your alley!!

There are few restrictions on new development, construction is faster, occurs year round and when rents and occupancies began to peak and easy credit is available, it’s a developer free for all.  

Lenders will restrict the loan-to-value (how much you can leverage the property based on its appraised value).You've got money sitting idle in the house, and it's great that you want to put it to work.

You're still young and if you retired, you'd probably get bored, plus you'd be more restricted in terms of buying more homes.

I initially only looked in Wake and Harnett counties, and for both the UDOs were sufficiently restrictive to cause us to change course.

I believe there are some other restrictions such as you cant work on the property or manage it.

I've put several of my rental addresses (that are not within a restrictive HOA) in to see what is for rent on the site nearby and to get an idea of the rates being charged.