I.e. from a financial standpoint we BENEFIT from these restrictions just as existing owners in San Francisco, LA, NYC, Cambridge have.

Once you reach this point you'll need to either start buying cash, exploring private lenders who don't have this restriction, or start trading your properties up.

Greg,With respect to the FHA 223(f) program, and other HUD loan programs that are specific to 5-unit+ multifamily transactions, the only restrictions I've ever encountered with owner rental restrictions were related to deals that married a HUD loan program with a state or federal affordability program (i.e., LITHC Transactions).

That credit rating and reputation will be vital for you.Then, I'd look for an area in the State I'm most familiar with which is no more than 3 hours from my home and which has the least restrictive planning and zoning regulations. 

., violated the First Amendment by giving signs promoting a church's worship services vastly inferior treatment compared to political campaign signs.Writing for the court's majority, Justice Clarence Thomas said the town law limiting the size of the church's signs and the length of time for which they could be displayed was a "content-based" restriction on the church's speech.

Additionally you will find at MOST condo buildings have rental restrictions built into the by laws so its very hard to scale a portfolio with condos unless you have an AirBnb angle.   

There is also a vote that needs to be done, and this would all need to be recorded with the county to remove the deed restrictions.

Yes, there are a ton of restrictions and you might have to modify your land search to areas further out or you might consider purchasing an existing small park. 

Just too many restrictions. 

Does the city have any restrictions on drilling?