If you violate some state real estate matter, you might get fined for some low level screw up.

I know its a fine line.. but I think we have gone over the line.. the amount of people that live off of the government be them cross border illegals that walk into our emergencey rooms and use them as everyday doctors knowing they cannot be refused .. or the huge amount of folks that will never work get HUD housing and food stamps.. who knows were it will go.  

The market is/was insane here and I think it's more a product of luck/timing than strategy - I personally would stay away from buying an individual condo unless you're happy living in it (which is completely fine).

Just remember, be up front with people and don't leave a seller hanging and you can do fine.

I assume the seller knows he can get a signature loan or pledge other collateral, in your name as the primary and he being the co-borrower or guarantor, that's fine.

If an inspector disagrees, then they'll either levee you with fines or prohibit you from renting it until it meets their standards.  

Not trying to scare you, things should work out just fine, but letting the inspectors know you take them very seriously is a very good idea because with the banks, they adopted a new policy the last few years where they enforce the codes to the letter on any bank owned house anywhere in the city rigorously.

As long as you are in a position to take on the property when the renewal comes, you should be fine ... if the renewal is in 5-yrs, its not so bad, but if the Vendor only has 1-2 years left on the mortgage....

Pretty much said expect it and just roll with it and it will be fine. 

Smoking: None, $200 fine first time, eviction 2d. smoking in areas only Pets: by approval, $400 entrance fee (not deposit), $40 per month added to rent.