Are the benefits worth the risk.Additionally, everyone will define exactly what OPM is differently.  

I agree that the liability may outweigh the potential benefits.

An appraiser doesn't make much of an adjustment, but the market will.

Like @Corey Hawkinson pointed out a person can still utilize them, but with much updated adjustments and conditional variations.

They do have a monthly fee that tenants now pay to have tenant insurance and a couple other benefits.

Any help/advice on what kind of financing to go for (FHA/conventional/first time home buyer benefits) and any insight on how best to do this with a partner would be greatly appreciated.

But in a rooming house, they pay a much lower rent cost, and get the benefit of a professional cleaning crew doing common areas, kitchens and bathrooms, free high-speed Wi-Fi for their streaming devices, etc.

There are many other benefits from these Communities as well - you will find like-minded people who are interested in building wealth through real estate the same way you are. 

For example:- "1 time $129 non-refundable set up fee paid at lease signing"- "non-refundable pet fee of $200-500 per animal applies to all pets & must be paid prior to or when you pay your first month rent"- "$30/month required resident benefit package" Just my two cents.

Patience and flexibility will be essential in this market.Key TakeawaysPalm Beach’s market is adjusting, but it’s far from stagnant.