Red tape with trying to get the HOA board to approve repairs.

My assumption is that it still will be better to purchase in my name (better loan terms, ability to put 20% or less down, and I'm already pre-approved) and move to an LLC, but this seems like a steep cost of doing business.

The DSCR program "Must use the lesser of the two either common rent from the appraiser 1007 rent schedule form on the appraisal or the lease".You also have to factor in the taxes and insurance because a guesstimate or ball park can kill the approval. 

when i buy dirt and do the horizontal these deals can take 2 to 3 years 2 years to get through approvals and horizontal  12 to 18 months to build and sell.. thats a 20 to 25 lot project.

It's simply a mobile home with some sheds on it. 

Then there is city approval and whether they want a 2 to be a 4 (seems like the nearby properties might support it).

It is already off putting that I could not be allowed even to use a tent or trailer, RV, mobile or tiny house even temporarily.

If you do decide to go that route, I would suggest using one of the Eagle Rock approved builders. 

Durham is also more complex in nature than Raleigh.Raleigh stands out as the only municipality with Fast-Track ADU plans to streamline the approval process for homeowners.

I like the West Mobile area, its class A area, you can definitely find deals there, 3 bedroom with 2 bathroom for around 220k or so, you may have to wait a couple of years for positive cash flow but properties there increasing in values better than others.