Well some areas have disclosure if you own 50% or more of the corp and others it's any interest.It sounds like he has plans for the property already.I love it when I see an old house where I think I can make improvements and sell it off.

When I was on the board all architectural improvements required board approval.The new HOA president lives 2 units down from me. 2 months ago I discussed with him the improvements I was planning on making to my unit so that we could make sure they would get approved.

@Jay Hinrichs , so you're saying we should invest and open a home improvement store :)

What did you budget for improvements to get it rented?

Working in the corporate world at improving business processes I see a lot of similarities between that and RE investors.

So any improvement that can help that way will be a benefit.

This is taken from Oregon's CCB website: "Oregon law requires anyone who works for compensation in any construction activity involving improvements to real property to be licensed with the Oregon Construction Contractors Board (CCB).

hi huyWould he takes less than 130 and is there anything you can do to improve the property?

Another issue is a tenant is still restricted to the use of property, making improvements and other aspects that require an owner to perform, like in contracting and obtaining building permits.

Your goals seem ambitious, I believe almost all rehabbers feel they improve the neighborhood and move onto the next challange.