Each Village depending on size has someone that regulates rentals and associations.

The most important thing is to know what the bylaws has to say.But I've been warned about buying into situations where an investor owns a major portion.

Or there is a version for 2 to 4 unit small buildings as well but then down payment grows to 25%.Or if you agree to live in it for 12 months you can do it as an FHA 203k rehab loan with as little as 3.50% down on 1 to 4 unit properties and use future rents to qualify for the loan size needed.

The area is 15+ acres up to 100 acres, my choice on the size.

What is an ideal amount I should have in my savings before I buy my first property?

Whether you are renting the rooms individually or as units in a multifamily property, my understanding is that you will still be able to qualify a portion of the projected rental income towards qualifying for the loan, but ONLY IF you have two years of experience as a landlord or in property management.

Does anyone have any reputable recs that can take on a job this size?

I get a rough overview of what people are asking for rents for rooms in my neighborhood and then I adjust my rent for the room I'm offering based on the size of the room, number of people sharing the bathroom that room uses, time of year I am trying to rent the room (I dropped the price a little bit in the winter months to keep vacancy at almost zero.), etc.  

In some cases the percentage of ownership can be higher if a unit has a better view even if the size and layout is the same.

(some easements are for 99 years)2) The easement should be for a portion of the roof and not the whole roof top?