Flipping homes is still a s option.

@Mimi PerezThe restrictive HOA will limit your future options and continue to be an expense.

I've drawn the new build for an owner-occupant to have a single family home but with the option of having a "tenant"/roommate or family member (perhaps in-laws, or elderly parent/grandparent, or a brother/sister, who wants private, separate living space, etc.) living in their own space with their own separate utilities.

So I haven’t actually used them yet.

You’d be shocked by how little actual screening many PMC’s do!

Reserved the land but then now knowing what to do, gave away the option on 1st

Failure to complete the transaction forfeits the $20,000 option fee. 

You can find this under section 280 AThis rule does not apply to properties converted into rental use I think thats actually why they call it the "STR loophole" right? 

I'm actually in the process of doing a cash out refi for this property with a few more properties I own into a portfolio loan.

When you're weighing investment options, think about things like employment growth, rental needs, empty property rates, and property taxes.