Also a lot of times HOA's will suddenly change the rules and decide to stop allowing rentals, or put certain other restrictions.

Depending on the price of the home you might be able to use all your portion depending on lender restrictions. 

I'd go so far as restrict your passive marketing activities and use that money towards active marketing, such as networking-related events, where you can get your face directly in front of prospective clients.I recommend using direct mail to promote your closed deals and listings as a way to show that you are active and gaining traction in an area.

You need to look at the deed restrictions, and to any PUD (planned unit development) or HOA requirements, it could say that occupants must be 55+ or it could say owners, I also suggest you check as to allowing rentals. 

As a free market guy, as most entrepreneurs are, I think it's ridiculous that free trade is restricted in any way, whether it's with real estate short sale purchases, reselling with FHA financing, or health insurance being unable to cross state lines.  

I have a big family and the breadwinner for my family so that restricts my finances.

I have a lender now that is doing 5% down with no PMI and with very little DTI restrictions.

Also, to be clear, FHA a loans are Not restricted to first time home buyers.

I have never dealt with AG because it seems like more hassle than buying a res parcel like restrictions, tax rates, exemptions etc.  

Is there like a restriction to most where you can't sell it for a specific amount of time.