What you've listed as work is really nothing that a "regular" homeowner would do to their own home, even potentially at the same time. 

I did some research on BP and looked for markets that other were talking about.

STR Owners and potential STR owners - Here's a little advice. 

You need to look at this new potential cabin build and figure out how it will affect your risk levels.

Or you could potentially partner (although I much prefer private loans).Or would the seller consider offering seller financing for six months or a year maybe?

They would also be happy to receive more rent each month and have someone potentially buy their house for their desired price of $1.3 million.

My aspiration is to explore all potential avenues to turn this property into a profitable asset.

And, if the home has, at minimum, retained its value then 8 years in loan payments should have reduced the debt therefore creating a potential profit when sold. 

I think overturning some of them will include getting some of the nearby lots to vote on it as there is a clause stating that that's allowed.The thing that scares me the most is regarding the stylistic stuff -- there's a clause stating -- "The homes shall be harmonious with and reflect the exterior design characteristics of these homes already erected on the property" and that combined with -- "it should be lawful for any peron or persons owning any real property situated in said tract, to prosecute an action or proceeding at law or in equity against a person or persons either to prevent him or them from violating these covenants or to recover damages for such violation"My RE lawyer friend said that its such a broad clause that it could potentially open you up to getting sued if a neighbor really wanted to depending on the stylistic choice of your home.

I would research that and see what the requirements are.