It’s not a secret that real estate investing requires a keen eye for opportunity, a dash of risk-taking, and an adventurous spirit.

In fact, the law requires the landlord to maintain the home and your policy may not even be legal.

Or put the 88k in, refi out of the HML which requires you to come out of pocket quite a bit of money as well, and hold it long term which on paper may eventually make you whole.

Best you can get would be 15% down as an investment property or if you can show proper intentions, you could call it a Vacation home which only requires 10% down as long as it is a (SFR - single family).

We found some we liked, and some that may require more work but I enjoy that aspect for what it's worth.

It seems like a hard money lender typically a private individual or venture firm) would be the only route to go since they are a little more lax on lending requirements than a conventional lender.

I’ve heard from some lenders that I need more equity, others said there was a “cooling period” required after purchase to be able to use additional gained equity in land (from rezoning), and others needed prior experience.

The interest rate and cost is higher than conventional loans but the requirements are less and the closing process is faster. 

If it's HOA/Condo vehicle requirements you're worried about, it's usually already in a standard lease that they follow those; otherwise, they'd probably expect tenant to comply with city codes unless there's a viable reason an owner wants something more strict. 

Also check setback requirements and off street parking requirements.