I talked to a family friend and he is willing to fund my investment.

@Craig Curelop, what @Chris Jackson pulled off is pretty cool.Another option is to borrow the funds, secured by some other piece of real estate.

2) Would I be able to use a 203 for funding, then split the properties after the fact, assuming I'd stay in one of the townhouses for at least a year?

The home could later be used for the equity to purchase more property or sold and the funds used to purchase more homes.

You might even be able to use a conventional 95% ltv loan since it will be owner occupied....?

If you have valuable experience with buy and hold properties, flips, wholesale, or anything in commercial real estate as well, please let me know.More specifically, I'm looking for a partner/mentor with the experience and the funds to help me with building my real estate business.

I would also talk with the association manager and find out what they have in funds currently for any repairs that would need to be made.

Max LTV you'll get though is 70% so you'd have to bring in 30%.  

On another note, I do know of other companies that will fund properties or businesses even if taxes are owed.  

anyone willing to share some financing creativity to purchase multi-family deals.