I'm newly elected to an HOA Board for a building that is 65% commercial with one owner and 35% residential with 35 owners.

ie: You think you are 50% complete but the inspector says you are only 30% complete.For these reasons alone, sometimes it is just best to elect to go for a straight purchase loan, 75%-80% LTP with no rehab holdback. 

Hahah whoops you're right @Erin Dorsey Robinson ( Thanks for the correction/clarification) I meant with realtors AS co investors.

I’ll take it as a sign that this deal is t meant to be

Vets like us can only get VA loans on 1-4 unit properties because those are considered residential and the VA loan is meant for owner-occupied residences.

The 3 year taxation is the default, but taxpayers may elect to pay taxes on the full amount for the year of distribution.

@JD Martin Thanks JD, sounds like many have agreed on this that it is not meant for early on investors.

As far as the homes that is quite a negative amount but you purchased them with low money down option and since you are saying PMI it sounds like they are conventional options unless you meant MIP which is for fha loans.Some questions/thoughts to consider1) How much is your mortgage insurance and how much will it help you in a year once you get rid or mortgage insurance and hopefully raise rent as well.2) What part of San Diego is it in? 

If they elect not to remain a tenant, they will need to vacate on day day 30 and it will be leased to a new tenant starting on day 31st.

@Steve Vaughan  Sorry I meant I purchased the paperwork.