Can we rent condo out inpsite of HoA rules to contrary?

The restrictions and remedies available to you are found in the restrictive covenants of the homeowner's association. If the covenants are not binding on any of the homeowners, you might have an out, but it's likely that everything was properly filed and recorded. You may wish to seek legal counsel to help you explore whether or not the covenants are enforceable.
Assuming the covenants are enforceable, you would need to review the HoA agreement to determine what remedies the HoA has against you if you rent the property. They may be able to get specific performance to force you to not lease the property or stop leasing the property (carefully read the HoA restrictions and look at Georgia law governing homeowner's associations). You might also be subject to fines under the HoA agreement for violating the terms of the agreement. Those fines could end up eating up any rent you collect from renting the property.
Because you purchased the property with knowledge of the restriction, the law probably does not offer a lot of remedies to you. The agreement itself may provide that if someone has a rental permit but doesn't use it that they lose it, but you'd need to check the covenants to make that determination.
I would probably not recommend leasing/renting the property without the permission of the homeowner's association because you would likely be in breach of those covenants.

THIS DOES NOT CREATE AN ATTORNEY-CLIENT RELATIONSHIP.