Judd, your question touches on complex tax issues, especially regarding the Foreign Earned Income Exclusion (FEIE) and managing U.S. rental properties from abroad.

Development is a complex and often strenuous process.

Some others seek to 1031 into that centralized apartment complex and end there journey there. 

(Keep in mind, those are multi-million dollar apartment complexes.  

Thanks @Jenkins Ramon -- won't it be sweet someday when I can take a picture of that vision!

Do not do this setupIf you decide to move forward, do not live in the property. make it 100% an investment without any additional complexities. 

However, it presents challenges like time, complexity, capital tied up, and loan-to-value considerations.

As far as insurance, as you probably know, it can be complex. 

Improv isn't easy but a sweet skill to have! 

This might be due to subsidy or assistance programs where payments are deferred or not required under certain circumstances.Verify Loan Terms:Contact the lender or servicer handling the HUD loans to get a clear understanding of the terms, especially regarding interest, payments, and any special conditions tied to these loans.Consult a Real Estate AttorneyGiven the complexity of dealing with multiple HUD loans and the potential implications for your “subject to” deal, consulting a real estate attorney or a knowledgeable real estate professional is highly recommended.