As everyone else mentioned; FHA is a residential loan, defined as 1-4 units. 5+ units are considered commercial so you would be looking at a commercial loan or hard/private money.

@Wayne Brooks  we always have defined release clauses in the prom note.. however I suspect most dont know to ask..

You need to define your criteria so you can tell others what you want.

Have you defined this yet?

Really define your needs of the COO job duties and hire a COO who has been successful in your market at his prior position.

1st, define your goals.

Also, RUBS is municipality dependent and not all municipalities will allow it (check where you're investing to confirm).In Texas as an example, the Texas Commission on Environmental Quality (TCEQ) has defined regulations for how tenants can be billed, what deductions an owner must take, what billing fee can be assessed, and more.

Fences define areas, provide additional privacy and protection!   

You found the property, you define the deal terms, they accept it or don’t. 

@Leland Smith  Sounds you definately need to get a new Board in place.