I ask because there could be seller/ shorting lender restrictions on your ability to resell.Also, note to the other posters, Massachusetts convention is signing an offer to purchase, conducting inspections, and THEN signing a P&S.

It needs to address the functions but it should not be written so strictly or well defined that your by-laws or operating agreement becomes restrictive and requires modification to make a left turn.

Carrie Collyer - Your PM abilities were restricted because you were sending the identical message to multiple people.

You can convert an investment property to a primary residence and take advantage of benefits of the section 121 exemption for primary residences but there are limits, restrictions, and caveats. 

My main sticking point is that I am unsure how to find a marketplace that would be worth my time to find MFH properties effectively since I have minimal restrictions.

Caseworker will need to figure out the UAs and tenant's co-pay and maybe do a cursory inspection.If you mean you want an income-restriction on the property, I wouldn't do that.I guess the pros are that you get the voucher amount on the first and if the tenant becomes a PITA you can call the caseworker who can usually pull vouchers as enforcement.Cons are you'll prob be a little lower rent, you still need to collect the co-pay and the tenants (my own anecdotal observations) are tougher on the units. 

I have a feeling 12-18 months from now the lending restrictions wont be as strict. 

@Jesse Munos & @Stephan J Hagen - I've been bouncing around the idea of hosting, but with the COVID restrictions I'm pretty limited in options right now.

Does anyone have any advice about purchasing a SFH in a retirement community? Pros and cons?

If it was a properly registered MAC TRUCK, I'd still have a problem if access was restricted or safety was compromised (if someone got hurt they can go after the truck ower/insurance).