I find it odd that this isn't a more standardized practice.

Let's cut to the chase:  "A tenant is obligated to follow HOA rules, as they are considered residents of the community and must abide by the same restrictions as homeowners, even though they do not own the property; the landlord is responsible for ensuring their tenants understand and comply with the HOA rules. 

Understand Auction Rules:Auctions typically require fast closings, often within 7-14 days, so confirm your financing aligns with this timeline.

After graduation, I bounced back and forth from Los Angeles to New York City, doing odd jobs.

Understandably, it probably appears that I am jumping the gun with only 16 units (maybe I am).  

You can review your HOA's governing documents, also known as the CC&Rs, to understand the proper procedures.

@Keetaek Hong I have a lot of clients who are facing the same challenges but they understand the long game and that it's imperative to build a portfolio, With that lowered interest rate I mentioned you are looking at 30% down and including PM fees will typically have you around break even or barely positively cash flowing.

Thanks Brandon Rizzo for understanding here.

So, you're actually making the argument *against* debt (not for it).I think you mis-understand debt, risk and the alternatives.

Another idea is to partner with someone who is located in PR and better understands the market.