Something is missing...if there isn't a Board and the HOA (or I assume more likely a COA) is newly formed then why isn't the developer still in control of the HOA?

It also depends upon the CCRs themselves — they can control as to priority — and the date of the assessments in question versus the date of the lien being foreclosed.Way too many variables for an accurate answer across multiple jurisdictions.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 4-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

You’re likely to see someone want to control the rehab portion as a way to secure their investment.

That way you can control things better as the only guarantee is things will come up.  

I will be here for 6 months to a year and looking to continue hands on support/experience.I am a construction manager and have a lot of background in contractor management, site scheduling, and quality control.

In my opinion a fully passive RE investment is the most risky because you give total control to others. 

It's determined by the nature of your arrangement, mostly by how much you control the employee's work.

This structure combines efficiency with enhanced privacy and protection for your real estate investments.Ultimately, there are plenty of ways to structure your investment real estate strategy, and the best approach often depends on your specific goals, the nature of the transaction, and your preferences for simplicity versus control

I would consult an attorney who specializes in this.Also, assuming the property is in California, if it wasn't subject to CA Rent Control, once it goes into the LLC, it might be.