If so, are there legal ramifications for the HOA board or voting members? 

So actual benefit is hard to nail down until it's actually tested/required to provide protection in the event of a lawsuit. 

I dont believe so but am not an expert on the topic - I do know that in Texas at least, it is marketed for owner occupants first and then after a certain time period they allow investors to put offers in. 

we have two properties under agreement and both are $2M + and VA loans, which i was shocked they go that high, so yeah they are powerful.

If they sell, spring is a good time to do so in Vancouver. 

If they’re financing, the process already takes time, so a slight delay probably won’t matter.If the home is vacant, maybe they can move some things in as a short-term tenant until closing (if their lender and community allows it).

This could lead to higher tax bills for businesses and renters, who do not benefit from the homestead exemption [5].Local Jurisdiction AutonomyThe amendment allows counties, consolidated governments, municipalities, or local school systems to opt out of the exemption if they choose to do so.

That higher interest will be a lower cost than the closing costs for the refinance so a net gain (depending on your new loan size). 

If it's so hard, why bother at all? 

Many of the OTAs and lead gen sites, like Furnished Finder, are pushing credit card payments. 99.9% of the time I get a message from FF saying 'your tenant would prefer to pay by credit card so activate Stripe now!'