Also, you cannot compare an earth home to a standard frame house even if they are the same size.

The paperwork is different from state to state too so drafting your own docs or filling in the blanks with standard contracts may be tricky.

Checking that a washer/dryer works probably is standard.

Why wouldn’t you want to compensate someone who brings you a quality tenant?

I would find out what the HOA's requirements are and then screen the tenants myself to make sure they meet those standards.

I'm not ever going to say I do things better than you, your transactions I'm sure are much cleaner and you are leaving your end buyer with a very good quality finished product.

the VA loan with no downpayment, or a standard mortgage with the down payment?

If you didn't specify how rents should be handled - prorated based on days of ownership, you get entire month, seller gets entire month, some other split based on percentages - then you didn't draft your agreement thoroughly enough, and the closing agent doesn't have anything in the contract to go by.Although the buyer getting keys at closing is somewhat standard, I have been to a few closings where the buyer did not get keys (and once I was the seller!).

There are investors that do this kind of thing with HUD homes as well.They sign paperwork at closing that they are occupying the property.Another component of this is fraud to a lender on a loan if you say you will be living there.The reason is lenders give certain rates to owner occupants because statistically you will fight much harder to keep a place you live in.If it's just a bad investment it is easier to walk away hence a higher rate and more down.This property from what you said is 2,400 X 12 = 28,800By half is 144,000 at a 10 cap based on 50% costs.The carpet and paint the bank put lipstick on it it appeal to a home buyer living in one unit and driving the price up.On a quad typically you could expect about 8,000 for the siding,4,000 for the roof,6,000 for 4 outside A/C units,if interior bathrooms and kitchens are outdated about 4,500 by 4 units is 18,000,then water heater and heater about another 6,000 total.So conservatively I have about 42,000 in immediate CAPEX.Every areas cost is different so I am just throwing mine out there.Now the other you say 20 quads total is what you need to worry about.If there are a bunch of short sales and foreclosures from vintage 2004,2005 loans then the new purchaser with a cash offer or a small debt service will rent below market to fill quickly and turn more or the same monthly cash as you.So you starting out at 600 rent monthly might go to 550 or 525 in your development.I have seen this happen.I have also seen even if your building is well kept quality tenants do not want to live next to the other buildings where landlords put in suspect tenants to fill up.Also some landlords with high debt service will drop rent instead of repair to keep tenants so they won't spend tens of thousands out of pocket to rehab.

If that meeting doesn't offer a common sense solution (like allowing you a waiver on this fence but requiring any replacement be correct standards) then some states have a board or independent agency that helps owners with disputes with their associations, so look that up to see if you have one of those as the Board being contacted by an outside party might help immensely.