NEED SHORT SALE HELP!!!!

[Tyrell Townsend]

Hi 

My fellow biggerpockets memebers I have a question on the legalities of resaling of a short sale deal. So I'm in the process of purchasing a triplex with each unit having 3bd 2bth for 75,000. It's in "ok" condition but is in liveable conditio but I plan on rehabbing the property at resale price the comps are 300,000 in that area should I keep as a rental or resale ?? The units are renting for 800 now but after rehab they will rent for about 1300 dollars a month And also I'm using an FHA loan with 10% down. Any advice is appreciated :)

[Brett Goldsmith]

There are deed restrictions for 30 days and potentially 90 days for more than 120% percent. You need to read the paperwork you are signing to see if there is a deed restriction.