I'm sure I can make it a lot more complex, but its not something I need right now.

Here's the situation: I bought a 16-unit complex in Fresno in May.

This 4 plex resides in a neighborhood that has a total of 8 4plexes on one street and two or three 6+ small complexes all within the same block.

We have also considered a smaller, 6 to 10 unit apartment complex.

Can I sell three separate SFH in that time-frame and then roll it into an apartment complex for example?

@Janann Chan I lived in Winter Park for many years and condo complexes can differ greatly even if they are only a block or two away.

There are other criteria too that's considered for the complex to be FHA approved. 

I will offer a monthly lease payment of $1,700 which will include the HOA fees and any other fees associated with the complex (only being responsible for the electricity), which still pays down the mortgage leading up to my option to purchase, for up to 3 years.The owner will be allowed to claim the home on their taxes every year until I am able and have the option to purchase.

For example, true story one tenants dog bites another, complex is owned by one of my LLCs with big mortgage, she files suite on my LLC, finds out in deposition only about 50k in equity and my insurance doesn't cover dog bites and I don't carry liability insurance and they drop the case.  

Thanks Mike and Dawn.I will surely listen to podcast # 29 from Dawn.What do you guys think about condo units, like buying 1 unit in a condo complex.