My main concern is that you underestimate how much time/effort this will take.

Story time.

Things just require more ongoing expenses percentage wise out of state because you have to pay people to do everything for you and you will have a longer time building relationships with vendors even when getting decent referrals. 

Currently, we are targeting multifamily properties of 100+ units, and have been actively engaging with various owners and brokers, submitting Letters of Intent (LOIs) and working to secure deals.While some may consider our approach bold for new investors, we are confident that, with the right team and expertise, we can succeed in achieving our objectives.I’m excited to be part of this community and look forward to learning from your collective experience.

If it’s tied directly to the lender as part of your mortgage agreement, you’d probably need to negotiate with them or refinance with a different lender who doesn’t require that restriction.However, if the restriction is part of the property deed itself and was placed by a previous owner or another party, it can be more complicated.

Often times, if they come in through VRBO or AirBNB, they are looking to get something at below market rates or market.

In part because the sink is under the window which to me seems like a natural spot for it. 

@Leslie L Meneus Which part, but probably yes! 

Part of this sounds like a Schedule of Real Estate.

Either way, there are several people who make this work all the time.