That is quite an ingenious way to get around the no rental clause but it may cost you money and ownership down the road.  It also may be against your contractual agreement with the lender if you have a mortgage on the property. By deeding him half of the property you give him ownership with out liability (the mortgage) and you would have to look at the rules of the HOA to see if it would violate the agreement you have now.  If approval for ownership is necessary that would be a way for them to block your putting this plan in to motion.  Fees vary from state to state but understand that there are recording fees for a deed besides attorney fees in preparation.  Good luck.