April 9, 2012
A reader asks, “I own a unit in a condo building. I would like to buy another unit in the building, but I have been told by the board I cannot due to the FHA rule that not more than ten percent of the units in the building can be rented out.”
“Of course if I bought the unit, I would then rent it out. Otherwise, the building could loss FHA financing.
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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