If there is anyone out there who can clarify the purpose of this law for me, I'd be glad to hear it.

It definitely weeds out a lot of folks, but then again that's the purpose of the process isn't it?

I have no clue about what I want to do with my life; I have no interests because I saw every subject of study as work, and I excelled at every subject just for the purpose of excelling, not learning.

Bottom line -- getting back to the purpose of this thread -- is that activity on BP hasn't dropped, despite what those people who aren't happy with the changes to the forum want to think.I've said it before -- not everyone is going to like the changes we make -- that comes with the territory.

(purpose) buy a house to use as a rentalWhy?

The main purposes for both the cash-out and HELOC would be to use the funds to start BRRRRing, either as part of the purchase or toward the rehab costs.

I wrote the above for informational purposes.

A few that high does not serve your purpose.  

It only says, "Residents agree that said premises shall be used only as a dwelling and for no other purposes and shall be occupied only by TENANT and those persons listed on TENANT's rental application."

The purpose of that charge is exactly for that reason