And it's ESPECIALLY tough to find great MF deals as an out of state investor bc when the occasional great MF deal does crop up, odds are that someone local will make an offer before you're even aware it's on the market.

@Robert OmbresNearly all insurance carriers publish a "restricted breed list" - these days, regardless of the Association's policy, if you have a breed on this list, it puts the association (you) at risk.

@Cary Ferguson Jr guess it depends on how low rents dropped during that recession, but based on what rents dropped to last time during the recession in this same area..I think I'd be fine. that's what I find so odd?? 

That's an odd duck down here.....Mobile home coop park.  

Thanks all, Yes, very odd this guy is.

Is there any legal or regulatory restriction on me closing all 10 deals?

I recall the proforma on that property being somewhat odd --- maybe the stated gross income was too high compared to what the stated rent was?

I'm restricting myself to the 4-plex idea because of financing.

I'm restricting myself to the 4-plex idea because of financing.

There should be legal documents that spell out the restrictions for the property.