We could rent, but rental prices are so high it would cut into profits and it would be difficult to find an owner willing to lease to us since we would need to make alterations to the home to accommodate up to 12 men.So I have been thinking about several solutions.  

This thing is going to be so marked up and altered by then, it may barely be recognizable. 

They have a majority vote on the HOA and can alter the community negatively. 

Let me rephrase, is he legally bound to drop it if the rates truly have dropped or can he flat out refuse to re run as it’s too close to the settlement or simply alter (lie) and say that rates are the same.

Knowing Who the seller is and Why they are selling could help you negotiate in the following ways: obtaining a reduced purchase priceobtaining seller financingprovide a lease-back optionoffer an equity stake in new development vs. cash at closeThere are countless ways that the terms and structure of a deal could be altered to get you to the finish line, and sure, it's possible that you could get a win-win deal for you and the seller without knowing their true why, but just like you should always make sure you know what you're buying, you should just as well know why they are selling.

also biggest concern if I was doing what your doing is trying to figure out what the property tax's would be once done.. as you know TExas is SKY high on prop tax's so not meeting 1% and texas prop tax's that could easily be negative cash flow if you have max leverage.. just don't put max leverage on it .. everything cash flow based on altering your down payment or your equity.. whether the ROI is worth doing .. probably be determined on if you think you will have appreciation..  

While the no-reassessment may be attractive on the surface, it cannot be guaranteed as the taxing authority can alter their assessment at any time based upon the "value" of the business.  

In general ask the lender you would like to use, if they don't give you an answer you like, shop around and ask other possible lenders, if nobody can give you an answer that works for your situation, then you will probably have to alter your situation.

They will alter or lower the price in light of damages if you want to proceed.

But let me tell you- when you alter you innards to that of a landlord, all of this becomes easier- and your tenants heel when you tell them to heel.Bottom line is that no attorney is going to solve this- you must man up or hire a management company.