I can't speak of all the lenders, you would have to contact each lender individually and inquire about their terms. 

A few questions:- How easy would it be to convince either the city or the HOA to switch to individual water metering so the tenants are responsible?

If the investors share control (they have decision-making authority), that is a partnership and is not governed by SEC regulation.

Specifically: "Under Florida law, Citizens may write a new insurance policy only for property that meets one of the following eligibility criteria: Coverage is not available from a Florida-authorized insurance companyPremiums for coverage from Florida-authorized insurance companies are more than 15 percent higher than the premiums for comparable coverage from Citizens"The entire state has the potential for sinkholes due to our geology (limestone is not our friend). 

Any success with contacting the individuals skip trace shows may be relatives?

Which are certainly going to exceed $1,000.The only other way is to find wealthy individuals with no idea of what a good return is and ask them for a x% loan on 100% of the money with no payments and the hope you will sell it for a profit at the end.

Obviously run the numbers on the whole package and each individually, but sliding the purchase prices around on a few to play with LTV on financed properties would let you stretch your capital and pre-approved amount further.

The type of list is an individual choice and depends on various parameters such as your geographic market, the type of deals you're aiming for, your calling capacity, marketing budget, etc.

Will you keep as a rental property or sell off individual units?

Individual bank accounts nicknamed on each property to keep things consistent with bookkeeping.