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Economy compounds condo rental cap issue
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  • Integrator wrote...
    couple things to add
    May 3, 2012 7:08 am
    You forgot one option for condo owners, they could *gasp* actually live there. Obviously not the case if they are relocated for work. Also, I believe FHA loans require 70% or more owner occupancy, not 50% or more. At least that's what I was told yesterday while condo shopping. It's a rule made to protect everyone that owns, unfortunately over the last few years condos have plummeted in price which is what's really gotten people into this situation. Of course, letting them rent would largely eliminate anyone else's ability to sell once they lose FHA and conventional loan options for potential buyers.
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