I accidentally bought a condo ?!?!?! Someone please advise
BP,
I'm in a major pinch and I'm turning here for some advice. I recently purchased a single family home in new small subdivision for 185K that I plan to rent out for 1,800. I was just notified after the purchase was final that the home is in a condo association and the condo bylaws say "No business, no commercial, manufacturing, service, or rental enterprise shall be conducted within any unit". The person that sent me the email seemed to be a neighbor that was getting ready to report me.
Can anybody here shed any light on things? Currently the home is owned just by me, no LLC (big umbrella policy). Does that qualify as a rental enterprise if it's not in an LLC? That verbiage seems vague, hoping someone here can advise me on how we can rent it out. If they push back what is my recourse. Does it go to court etc?
Thanks for any help!