when i had all my section 8 rentals  ( few hundred of them) this was a constant.. hud rent of course on time but get those folks to pay the 50.00 copay was like pulling teeth.. so what are you going to do have a full eviction over 600.00 thats a loser late fee's would be the last of my worries as long as the house was not getting destroy or abused and everything else was good.

You cut your teeth there. 

I find that at least for me personally, I understand things the best when I can sink my teeth into them myself.

I would not have even bothered to report on this disaster had I not met a good number of investors who claimed to be JV-ing on some deals while having no paperwork or money trail whatsoever.

That said, a lot of HOA bylaws and covenants are pretty bare-bones and it wouldn't be difficult to meet the basic letter of what's there without providing you any relief whatsoever.

I've seen people with really important, noble or grand "Whys" do nothing whatsoever to reach those goals because they were unwilling to commit to the "Hows".

Regarding larger multifamilies- Im; tempted to say yes on looking at the larger multifamilies but in this case I say get your teeth cur on the smaller multifamilies and then move up.

This was the property I cut my teeth on DIY renovation, I learned a great deal and was able to gain good experience in renovating houses.

I cut my  rehab teeth on older homes (1920s) and everything I'm buying now is nearly 100 years old.

Unless you mislead and misrepresent your teeth off, I don't think anyone will bother you for buying a property for X, and reselling it for Y on the same day.