My question is: If the HOA changes the bylaws to ban smoking (which they plan to vote on), and the lease held by the smoking tenant only specifies no smoking "within the unit," is there any legal recourse for the smoking tenant?

You can finance it with an FHA loan (3.5% down) or a conventional loan (5% down) if you plan to live in the property.

Sounds like I've got the plan all laid out in front of me. 

Here’s a breakdown of some of the information you may need to provide for a cost segregation study.For existing buildings:List of equipment on the propertyProperty settlement stateAny appraisals or purchase/lease agreements Property maps or blueprintsSchedules, change orders or documents for future renovation plansSupporting documents for calculating real property book valuePrevious purchase price allocations that separated assets into their appropriate allocation and valuePast site inspections and photographsDocumentation that proves or records deterioration of assetsFor new construction:Contracts or contract paymentsLand and property sizeBlueprints of projectList of equipment involved or purchasedList of projected costs including costs for land developmentApplicable site inspectionsConstruction schedules and payment requestsPhotographs of completed assets or work in progressCost segregation specialists typically have an organized plan for the collection and analysis of the information provided.

Hi I am from Toronto, Canada and planning to buy investment property in the USA.

. #4 See everything you plan to buy in person. 

Instead of debates and personal opinion, look for proof https://www.ladbs.org/docs/default-source/forms/plan-check-2017/single-family-dwelling-duplex-plan-review-list.pdf under G (Interior Env) which defines the minimum requirement of a habitable room (aka bedroom or bathroom).

You can withdraw from your 401k starting in the year you turn 55 if you qualify.I am following a plan similar to yours.

Just need to put a plan in motion

Stay on top of material price trends, and have contingency plans for unexpected costs.