I've been on this board since 2010 and haven't found an example yet.

Although those guys had brick and mortar and where very good at what they did ( screwing people)this new crop are just hiding behind social media and their key board. 

Most folks I know that raise money for deals are oversubscribed and it is by relationship only to invest.Regardless, I'd have discussions with trusted advisors in your inner circle to see what they recommend.Feel free to reach out if you need a sounding board - happy to help however I can

Also, can you sue the previous broker and seller for failure to disclose or at least report it to the local board?

Dig deep for online reviews, Better Business Bureau and their State Real Estate Board, etc.- Do be open-minded though as we have many of the above from tenants who claim we illegally evicted them (so, somehow we got a signed Write illegally?)

Would have to have all owners on board for this. 

Glad there is a venting board for this!

What exactly would make a city board approve non-affordable (i.e. not Section 8)  apartments?

If tenant doesn't agree with "b", then I will move forward with option "a".What do members on this board think?

Hi Catherine,Welcome a board to Bigger Pockets, it's a great place to learn and Network with like minded investors.