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I did the exact same thing my first time out. I rented my property out a monthafter closing. As long as you aren't waving any flags at your lender they shouldn't care. And what if the did, what possibly could they do. You have the deed to the property. One thing you should consider is asset protection like putting your property in a land trust. It's very simple yet a highly effective way of shielding yourself from prying eyes. Think about it...if your tenent is ghetto and tries to sue you they're going to have to get a lawyer to do it. A lawyer is going to look up your personal assets to see what you own. If your property is in a land trust they won't see anything. The land trust gives you partial invisibilty to the world looking for your financial assets, but not protection you need a LLC or corp. for that. Look up the benefits of land trust on the web or visit www.legalwhiz.com
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