Something about with HOAs, renting is one of the vested interests that cannot be changed without owner approval.

Just to update the thread where I am at, I found one lender that would do $100K but the condo needed to be a FNMA approved project which mine is not.

We got approved for a loan through FHA loan and started looking for a lot of properties.

Add another 6 weeks for DOH approval and $20,000 or so for actual system install.

Does anyone have any advice as far as pre-approval? 

I got pre-approved for a loan and I've talked to a couple of real estate agents but still just feeling overwhelmed and kinda scared to buy my first place.

Next is researching these areas and speaking with the lenders about what you can get approved for with your down payment funds.

While that was happening, my local bank just approved a loan for one million to refinance some of my small multi units.I would target regional banks and credit unions.

The home uses 2 natural gas heaters (dyna-glo 3000 BTu), house was built in 1950 (older homes used these gas heaters as a heat source in the area) and is in the upperclass area where newer homes have been built and continue to be built ( which newer homes have central heat) , I just had the appraisal come back to the lender is saying that “” Appraisal stated The heaters aren’t normal for the area this is a comparable item The subject property doesn’t exist the area and/or comps used” so the underwriter won’t approve the refi , what do you guys think my next move should be?

Solution to #2 – there should be a clause in the management contract that provides a threshold where any work above a certain amount requires owner approval (emergencies are handled separately).