As a business, a judge will expect YOU to know all the laws and legal procedures.Make a minor mistake and the judge is unlikely to give you a break and may rule in the tenant's favor.The judge will see the tenant as a consumer and may give them a lot of leeway in court, even give them borderline legal advice.You are in over your head, not having the knowledge to properly handle this.

Please read the rules here.

I just want to get the management side of things right if I were to commit virtually all of my resources to it.Best,Dustin The rule of thumb is somewhere between 80 and 150 units is when you will need FT maintenance (depending on age and amount of deferred maintenance). 

So, as previously mentioned, the rules can be changed at the developer's whim.

I have actually seen this before and courts usually stick to the rule unless you get dam lucky. 

Our top return property is far better than our average return property.I do not get to make the rules (and there are many rules/regulations that I do not like), but the rules have not prevented me from making good profits in CA real estate. 

The standard rule is $250k per person who legally owns/occupies for the 2/5 year requirement. 

Caveat Emptor is the rule of the day in these tax and foreclosure auctions.PS there is generally no do overs LOL

Unfortunately, I do have a property in an HOA, which often comes with their own set of rules that you'd have to follow of course. 

In my experience, finding cash-flowing deals on-market can be challenging here (1% rule can be hard to find) but not impossible.