If so, you have an option to keep laundry on each floor and restrict access to tenants on that floor.

The major drawback I can think of is higher HOA fees due to salt water damaging exterior building and heating/cooling units, as well as higher flood/hurricane insurance, or higher reserves needed for potential future storm damage.Some HOAs have strict restrictions on rentals near ocean to protect long term owners. 

rgn=div8&node...Notice that (b) says the following (emphasis mine):(b) Time restrictions on re-sales—(1) General.

It is not a true option, but is a contract to purchase later on, at the option of the buyer.An Option is an agreement that is irrevocable by the one giving the option over a stated period, for consideration, at a stated price agreed, that has no performance required or restriction made on the buyer/optionee.

I live in Minnesota and was wondering if there would be any restrictions to me "owning" a property with the intention to assign a buyer to it being under 18?

Rental restrictions for condos are prevalent here, and just need to be avoided.

For $20K in an IRA, forget rentals, borrowing restrictions will keep you from getting to a dollar amount that makes sense, PLUS you really need to keep a healthy cash reserve in your IRA (I'd argue for $10K) to cover cash contingencies that might arise with your property (large new capital expenditure, tenant destroyed house, etc.).

------------------I understood that they were restricting my use of the gym, pool, valet and i can not receive packages but now they are adding that when i have a guest arrive in the lobby they are not allowed to call me and i have to go down to the lobby to get my guest.

These can greatly restrict what you can do with land.

This may be a moot question but is there any way around the Fannie Mae 15 day first look rules? I'm not talking about doing anything illegal. Just a legal "work around" to get these properties before they get to day 1...