I don't work with rental property, so I can't help you with that situation - except to suggest you speak with someone at IMM or Rocky Gordon Property Management. RJR Property Management is another good company to call.
Regarding our rural properties, as far as I know there are no HOA fees with rural property around here. No Homeowners Association. However, if you mean Covenants and Restrictions that control if you can build a shop and what size shop you can build, now that's different. Most of the areas do have some restrictions. Some say No manufactured homes are allowed, etc.
Regarding our market...I think it's a great time to buy a home in this area. Interest rates are still spectacular. Will the prices hold? I can't answer that question. ONE of the key factors to strong home prices is the Unemployment rate. Ours is EXTREMELY low, so there is a huge demand for housing! We have a housing shortage right now. We have a rental shortage. I understand there are some apartment buildings coming online soon, so the rental situation may change a little.
We have people coming from the Dickinson and Williston area trying to get away from the Oil Boom business and we still have families that moved here from flooded areas in 2011. We have a VERY low percentage of repossessed homes in our state too. Builders can't keep up with demand. Our cities are working hard to bring infrastructure to new school sites, and new home sites etc. Maybe in a few years we will catch up, who knows. Rents are at an all time high in many areas of the state.
Most of my clients say they would rather own a home, then keep paying the high rental fees. If you plan on living here for a short time, you may want to rent. But if you plan on making this your home, I highly recommend you buy something. You have a big decision to make. Please visit with a lender as soon as possible to review your options. Call if I can help you further.
I wont sign another covenant that prohibits me from exercising my own free will on my own property without some committees permission.