The interworkings of Appfolio are pretty interesting with how complex it is and all the things you can accomplish. 

Your situation is a little more complex than most people and I highly suggest you consult an attorney. 

The town is encouraging home ownership, so buying a condo/single, living in it for a year plus and then renting out works fine here (what I did), whilst house hacking a multi is more complex.

We also own an accounting/payroll firm and have a lot of MHPs, residential communities and apartment complexes as clients and have seen this happen a few times. 

Final comment, it seems complex.  

. - Are most of your loans short-term/interest-only, or are they more complex (e.g., longer-term, amortized, require escrow, commonly modified b/c of prepayments, etc.)? 

For the first time in years I’ve noticed many of the larger apartment complexes even offering the first month free to fill vacant units, so it’s clear that demand is down.

In my experience, a suit for specific enforcement of a real estate purchase contract is not particularly complex or fact intensive that would lead to extensive time needed for discovery. 

This sounds complex, and if the conclusion you're coming to is mortgage fraud, I would not recommend it. 

On the other hand, I am aware of a few students who thought they would start out small and work their way up, but realized that their first deal could very well be a 60+ unit apartment complex.