buying an entire Comunity/HOA

[Jacob Selig]

The basic idea is to buy every house in a an HOA for long term rental and then what?

I found a town house for sale in a community of 29 identical triplex buildings, all built in the mid 80s and half owned by residents half are rentals I don't think anyone owns more then 3 units. Looks like a good deal for the one unit and I will likely buy, but has thinking if over the course of 20 years I could buy them all and gross close to 700k a year it would be a dream come true, or would it.. 

has anyone done this or heard of it happening? Seems simple enough but I feel like there is a catch, I read the entire HOA rules and don't see anything saying I cant. one property equals one vote and 2/3 of the votes are needed to make any decision and 90% are needed to change the HOA governing rules which to my understanding is I could change anything I wanted at that point.

let me know what you think, thankyou.