re: OT - Forming a HOA

quote:

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Not really.

I don't know the specifics. All I know is they named dude an "owner" somehow to get around the can't rent the condo out deal.

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They probably quit claimed the tenant onto title, signed the note and security deed, and then had him quitclaim off title.

That qualifies for an owner occupied mortgage with the best underwriting terms/rates, avoids the HOA situation, and removes any risk with the tenant as owner.