They did not have my approval to invest in these new projects. 

For that reason my money is elsewhere.You are almost never alowed to do your own renovations, and have to pay an application fee to get approval to do work on your rental.

Then a hiring increase for local regulation officials or private sector to assess housing quality & approve it.

Starting the pre-approval process and it's been easy so far, but I do like to hear from people who have used a company before.

I would simply hire a good civil that has done development in that jurisdiction and pay for a feasibility study and let them run through all the check items.. but thats really just the start.. also for context .. these projects require 350 to 750k in CASH up front to get to approved plat status ..

But if the permit takes a while (like the full 3 months), you’d have time to decorate the place exactly how you want.As for the bookings, if the permit gets approved fast, you could take over the current ones for instant income.

I think you're right, it has always been a beneficial trade for both parties.I have not seen the inside yet, but the owner said he is more than welcome to show me once I have a pre-approval.

An investor who has participated in a subject to transaction without lender approval should NOT assume that they are safe from note being accelerated because a certain amount of time has passed.  

Credit score shouldn't be the primary driver of tenant approval, because if they could qualify for a mortgage they probably wouldn't be renters.

I have talked to the park management, and they said current owners do allow renting out as a rental, but the tenants would need to be approved by them.