I'm no appraiser but have plenty of fix and flips as well as new construction but IMO, it will be existing home. 

Can your existing box support the addition?

We can't HELOC due to TX regulations and cash out refinance doesn't make sense with interest rates.

The city just passed a very confusing zoning regulation restricting student housing to a specific area, and we're all trying to figure out what the fallout will be.

I’ve had several investor clients go with a new (to me)/ unproven lender because of a slightly lower rate promise only to get burned by that lender (closing costs were higher, appraisal costs much higher and appraisal was a nightmare, main point of contact gave us the clear to close as we passed our financing contingency then just before closing someone from the underwriting department we previously didn’t know existed said we need a few more days and seller didn’t agree because they had a higher backup offer, jeopardizing the earnest money and losing the property, etc).

We are solely working on assisted living:- Buying homes and leasing them at higher than market rates to these business operators- Purchasing existing businesses with the real estate- Developing / building newFor us, the business makes the real estate cash flow, we can create a massive impact, and the demand outpaces supply and will continue to be that way for the next couple decades.

I have turned over all of units multiple times the highest vacancy I'll get us under 1 week becuase property will be up for rent 2 months prior from existing tenants moving out.

By then they are usually dodging calls and would just as soon I forgot they existed. 

HOA violations are only grounds for evictions if you your lease requires them to meet HOA regulations, you have properly notified them of the violation, and they have neglected to resolve the issue.

(I would not specify how much.)If the property needs a ton of repairs, then even buying it subject to the existing mortgage may not be enough to make this a viable deal.You need more info, and fast!