Something is missing...if there isn't a Board and the HOA (or I assume more likely a COA) is newly formed then why isn't the developer still in control of the HOA?

For every $100 million in public subsidies, approximately 1,157 co-living spaces could be created, compared to 313 studio apartments.The Bloomington City Council is reviewing potential ordinance language to facilitate co-living spaces, considering factors like parking, minimum square footage, and the definition of "family" in housing contexts.As real estate investors, it's essential to stay informed about such developments, as they can present new opportunities and models for investment.

Duplexes are a little easier than 3-4 units with FHA since they don't have to meet self-sufficiency requirements.

I rent my portfolio out as LTR and self-manage.Good Investing...

@Gregory SchwartzThe answer starts with an honest self examination and assessment. 

Why even concern yourself with the legality if it’s self serving and harmful to your family member?  

My plan is to develop five 1,200 SF units, allowing tenants to lease multiple units if they require more space.Recently, a 62,000 SF medical building from a Reputed Hospital Name opened directly across the property, which reinforced my belief that a medical office setup would be a strong fit for this location.

Also you need differentiate your construction costs (hard cost) vs the development costs (soft costs).

However, here are a few strategies to explore:Local Real Estate Investor Networks – Join local REI groups, meetups, or Facebook groups where private lenders may be open to funding primary residences under the right terms.Seller Financing – If the seller is open to it, you could negotiate a seller-financed deal where they act as the lender.Community Banks & Credit Unions – Smaller local banks may offer portfolio loans with flexible terms.Wealthy Individuals / Family Offices – High-net-worth individuals sometimes fund private deals, especially if they see strong equity and repayment potential.IRA or Self-Directed Retirement Accounts – Some investors lend money from their self-directed IRAs for real estate transactions.Since you’re willing to pay higher interest for a short-term solution, a contract for deed (land contract) might also be an option, where the seller keeps the title until you pay it off or refinance.Would you like me to connect you with any potential private lenders?

We are seeking joint venture opportunities with experienced developers who can see the value in this project and help us navigate these challenging times.As partners based in NYC, this venture was beyond our usual real estate development experience.