But you will get a used house, possibly painted in an unusual style or smelling of neglected pets, and a lien.

Rough numbers are as here: Purchase price : $155k, Interest rate: 6%, Down : 25%, Closing Cost: about 7k (including 2k of prepaid and escrow), also Closing costs can't be rolled into the loan.

Failure to comply can result in a $12,000 fine (and they do enforce the rules, which are easy to enforce seeing as short term rentals are almost always advertised on a handful of websites that anyone can see including code enforcement agents).

Attorney is the best practice professional to help establish buy-sell agreements and other exit strategies, including provisions in your partnership agreements.

We got a lot of feedback from potential tenants in that market who were looking to stay under $1000/month including most of their main utility expenses. 

This condo scenarios with many subscenarios including taxes and different risks makes this decision overwhelmenly complex.

@Harry Williams and @John Underwood, if it is obvious people will eventually redeem and I will never get the property, I send a strongly worded letter by regular and certified mail telling them I have the tax sale rights including the right to possession.

I'm wondering if I were to crunch the numbers and find a viable place, if I can make an offer to lock in the place, and then what "loopholes" I have if later I decide the place isn't right to purchase.For example, if my offer included a requirement for a home inspection, and that inspection comes back with 10 things noted by the inspector.

I don't want to put 3.5-5-10% FHA because the total monthly mortgage including property tax, and home owners insurance can be between $2200-2900 not even including utilities.We do live in southern california so housing prices are high.

The area is in the middle of a few larger cities to include Springfield, MO and Lake of the Ozarks.