It is common to use a percentage (5%-10%) of the projected rental income. 

No unit or Townhouse Building there on shall be occupied and used except for single family residential purposes by the Owners, their tenants and social guests, and no trade or business shall be conducted therein, which impacts upon or involves the use of, the common areas"I don't see where it explicitly prohibits STRs, but don't want to get on the wrong foot with the HOA.

@Darius Jamar SmithThe community will need more details to really give you the advice you are looking for, but international transfer of funds for REI is very common. 

-Make sure you have some kind of phone number local to area.

@Austin Works Per option # 3 in my common, be specific about your investment criteria.

and given that returns on these are right at 15 to 20% kind of best case for any volume ( granted I know we all hit our homeruns sometimes) but how can you pay that rate and make any money on the delta.. you would need to be buying pretty big tapes and then you would owe them money while your not making any money stabilizing the collateral.. unless their interest payments are on accrual.. ????? 

id=1IaAr5B1WeT...Cleanup Job (Low cost fast flip): landscape package in front remove deckremove vines from house clean exterior, fix siding and wood rot, paint neutral beige/gray color clean driveway/weed, clean retaining wall/pavement replace flooring with mid grade flooring bottom level, carpet upstairs replace interior fixtures paint interior white trim, light color beige/gray walls, popcorn ceiling removal new kitchen appliancesRehab options: Replace deck with new one (kind of awkward that high to me) vs Remove and fill in wall or add large window to master.Potential space to move laundry into upstairs bathroom closet vs basement Can maybe get away with toilet/vanity replacement in each bathroomUncertain if painting or replacing cabinets with ikea type is worth itAny in-ceiling lighting will open up codes stuff with electrical since it is out of dateRepave/fix concrete front porch and side porch - replace/paint railingReplace front walkway cement, or remove walkway and replace with right angled walk to driveway (may not provide ROI)Tear down vs paint garage port in back yardWhich do you think provides highest ROI? 

(You don't have access to this kind of info at first).

When we have a hot job that needs to be done we'll do a hard money job (Lump Sum) and we're willing to pay the contractors a little more than normal but we have tighter deadlines. https://www.thebalancesmb.com/common-types-of-construction-contracts-844483   Hope this helps! 

Also if you think you might not meet the 45 days, you can do something called the Reverse Like-kind Exchange.