My long term plans are to either allow my mom/family to live here long term and/or if those chose not to or ended up with different living circumstances, I would rent it out and hold.

Has anyone ran into this same circumstance where being on the board is important to ensure you have a say in the building/complex?

Do you think it is possible for me to get approved considering these circumstances?

Usually FHA loans are for people with challenging circumstances so you should be okay.

Usually people in those circumstances are looking to sell a property and if they've been an owner of it for a long time then maybe at a discount.

Would appreciate your thoughts if any of you have pursue this strategyPS:Bare in mind, I'm a bachelor and self-employ those circumstances don't seem to be changing anytime soon.

You've sold the house - chalk it up to a loss -- You probably came out better anyways -- right now any affordable house in Wichita sells very very quickly and price appreciation is up for homes under a certain price range - I'd guess you gained far more by the timing of your sale with them leaving  when they did even though it wasn't under ideal circumstances.

If you were pulling $5k from your property its worth thinking about the cost.. but when you look at the circumstances big picture, or try to frame the circumstance as an investment itself.. it's a no brainer to me.

This is something you should discuss make sure to touch base with your CPA or Legal advisor about, personal circumstances and change how to best set things up. 

You did the right thing by not letting them in under any circumstances, if they had 2k today they could have had it earlier and prevented this mess.