Co-op for first deal?

[Nathan Weber]

Hi,

I'm just getting into this. One property I was looking into was a co-op. Is there any reason aside from HOA expenses not to go into it? What are the differences between a co-op and other properties as far as renting it out?

Thanks

[Jonathan Greene]

Co-ops traditionally have much stricter renting regulations. If this co-op requires board approval for purchasers, they surely will for renters and the process can be problematic. Co-ops also will usually have a lower percentage of allowable rental units, if they even allow them.