(End)Unfortunately, HOAs are often ran by individuals who are not the most knowledgeable on regulations, accounting practices, and more - and property managers do not want to intervene for fear of losing the contract. 

With this strategy, we knew exactly how each house was operating and we could intervene or change leadership of the house if necessary to assure operations were going as we expected. 

I thought the arguments being pursued by Joshua in this thread sounded all too familiar, and it seems the intervening two years have done nothing to dim his enthusiasm to borrow money at higher interest to partially pay off a low Interest Rate mortgage, even though mortgage Interest Rates are even lower now than then. 

Quote from @Giacomo Matthew Degl'Innocenti: I very understand your speech but it's hard to believe the tenant has nowadays became invested of a far bigger responsibility than the landlord in making it possible to be having depicted an accurate profile also because is the landlord indeed who's on the business and receiving the money.Thanks your intervening here though  There is zero logic in any of this. 

The order of the questions has been rearranged for a better flow.I have not reached out to Roofstock about this undisclosed permitting issue, because I don’t plan to seek recourse from them or the seller and there’s nothing left to be intervened.

So the enforcing agency gets to determine, but HCD is present to intervene if the enforcement agency is being unreasonable.  

Check this out to learn how to intervene before collections become an eviction issue. https://www.padsplit.com/help/article/how-can-i-prevent-a-me...

At first, he never responded to the suit though it had been delivered, and I continued moving the process forward, filing for summary judgement.Late in the process, long after his deadlines to respond had passed, he hired a small time tenant attorney to intervene.

You are just starting out. you want to invest out of state, not locally.You want to skirt/evade the law.You want to engage in a rent model that requires a hands on referee at all times, remotely.You want a rent model that has strangers living with each other, raping/murdering/stealing from/harassing each other, without any ability to intervene.  

STR a suboptimal option in this market due to restrictive ordinances.Purchase price: $1,260,000 with 11% down @6.75% fixed 30 yrTotal Rehab costs (labor + materials) thus far: -$70,390Cashflow to date (NOT including Rehab Costs above): -$60,237Projected Cashflow: 3.1% with 3 LTR tenants Wanted the group’s expertise on options as I am considering parting ways with this property given the number of leaks that have come up in this relatively young property.1) In 2025, 1031 into another (potentially more units) multifamily at least 20 years old.2) Investigate leaks/Stabilize and proceed with original plan as LTR and accept uncertainty related to potential future leaks.3) Proceed as MTR (hospitals and NYC nearby) so that can intervene on issues during vacancy periods.