We don't even a Board yet (it's a new build), and it's all being coordinated by the HOA management company for the building.The developer offered to make the new door key fobbed on each side for entry, and would install a new security camera. 

Quote from @Zara Massoud: Your new PM is correct and the old ones were wrong.The property manager must have your social security or tax ID number on file.

I work full time at a decent job, but have quickly learned that I needed to make some changes in my families life by securing our financial future. 

But in reality you might just want to think about using a standard savings account And taking a hit from inflation on the cash because the delta from the higher interest account to the regular account is not really that much on small amounts.

However, i'll likely be looking at additional ways down the road to be even more secure for a backup what if scenario.  

You‘re welcome to join my regular meetups in Bad Kreuznach or Wiesbaden.

Would it be a good idea to take a deposit to secure the deal until the rule clears?

.- If they are more reasonable you may want to accept if for now, but let them know you'd be doing regular increases to get the rent more inline with market rent.Too many newbies here will tell you to get market rent or get rid of the tenant.

My goal is to build my portfolio over time and secure a stable primary residence. 

I used to live in Tokyo for 6 years and would like to find a reason to go back more regularly but let me know if you want to connect!