Bottom line is there's no right answer per se, but all things being equal you will make more money with 5 houses. 

SE side by Easter Lake, looking to start wholesaling house to get enough to start buying and holding.

not called laws per se, but actually called codicils.The real issue with HOAs is by simple motion and adoption, the codicils can change overnight, and eg: while today sublet or rentals ARE allowed, next month they can be forbidden. 

I'm going to look more into that and se if it is possible in Edmonton.

First born is defending pro se, specialized lawyer very pricey, but are worth the experience.

Make sure to add Milwaukee as one of your key-word searches and you will quickly become familiar with others who invest in SE WI.

The LLC is in first position, not you per se. 

I am no longer in the land game per se'  we peaked in the early 80's  sold 800 lots one year... we had offices in LA and SF and bout  30 sales folks working for us.  

SE on the south/east side of Anacostia river will offer some cash flow.Although back to one of your original questions....keep in mind with only 15% equity you will not be able to do a cash out refinance.

There are a lot of investors active in all areas of RE in SE Michigan.