Instead, you could consider proposing a leaseback agreement, where the homeowner sells you the property but retains the right to live in it for the remainder of her life.As for financing, you could potentially use the HELOCs on your other properties to secure a loan for the purchase of this property.

I have proposed that if we can figure out how to do this within the rules, we would form a partnership to buy and hold properties.

They'd inspect the home for free and in return we'd ask for a proposal or estimate for the job in which we'd present to our buyers as validity to our estimated rehab costs!

Originally posted by @Deo Sanders:@Paul DeSilva I did the same thing.

@Olga Kostrova,Here you go, details on proposed changes including overlays:https://www.vbgov.com/government/departments/planning/Pages/Planning-Commission-Workshop.aspx

https://www.vbgov.com/governme...https://www.vbgov.com/governme...This should be of interest to you,  this is all PROPOSED plans as well you keep that in mind.The ordinance changes are tentatively scheduled to be considered by City Council on April 20th, 2021.

Not a bad place to buy a home and rent it full-time on Airbnb.A few highlights of the proposed law:Only one whole-house Airbnb investment property per owner. 

It would help if there were a number of other STR owners, and then if a proposal or change in the HOA happens you can work together to hopefully stop an outright ban.

Getting your first rehab project will require you to create a SOW, talk to contractors, compare and review bid proposals, review budgets, & make countless trips to Home Depot. 

My father-in-law however does not like this proposal but doesn't have any explanation for why.