Or, do I even need to declare something like that?

Respond it's going great I've been helping people get out from being behind on their mortgages and saving them from declaring bankruptcy.

Seems like they might not be able to: https://www.echo-ca.org/article/3-reasons-why-your-hoa-cant-declare-bankruptcyI own an investment condo and I know that a few years before I purchased the books were in rough shape.

There was a notice of a termite inspection on the water heater, declaring that no termites were found.

@S Edward  I would check your condo's declaration to see how the units are delineated as being common elements (which would be condo association property) and unit owner property.

I understand that if they get a rental lease on one of the homes they can declare most of that as income for the next loan they get, but you still have to show enough income to carry the first loan and your personal home mortgage (if you have one). 

Can you let me know if i will lose any IRS tax benefits by not declaring it as a rental investment property.

Anyway, that seems more of a side issue to me (important, but not a deal breaker).The hangup: Seller has to get legal conservatorship before she can sell the properties to me (the properties belong to her mom, who has been declared legally incapacitated, but who never wrote a will or created a trust).

That is some very powerful leverage with you doing some muscle to get the engine running instead of buying the deal.Yes 40-50% is a wise suggestion.

By declaring that you have both legal and equitable title, or by declaring there are no underlying or unrecorded encumbrances to your knowledge, you may be able to get a loan.