. #1, you mention their age a couple times. it appears that you are discriminating on age. as far as the 'quiet residential neighborhood', i live in an INCREDIBLY conservative, quiet, deed restricted neighborhood (and am even a member of the HOA board) and our neighbors throw some really great (rowdy!)

There are some great responses to this very sticky issue.In my market, Baltimore Maryland, there was an ordinance in place that restricted the number on non-related tenants to 3.

Can't say for California, but in general I don't know of any restrictions placed on agents acting as investors other than those regarding disclosures and not taking the commission on transactions they are a principal in.

My last place in the country had deed restrictions.

Realize when they talk about rules, they are generally talking about their local restrictions and not those specifically of commercial funding.I plan to give Paul Floor a call in a few months when I'm ready to start to refi.

If we did make it, odds are we wouldn't have electricity or food.People say to pay down the debt?

What are the restrictions?

What makes it more odd is the leases are years old, like 3-5 years old.

Your credit will take a slight hit for a few months after obtaining a mortgage and the bank your dealing with may have a restriction or grace period on purchasing investment property, especially if you are a green investor it may be a requirement to wait for some lenders.

Dan - getting purchase advantage by being a nonprofit subjects you to a lot of restrictions.