I saw this in the tax code form 537, how does this apply in the above situation?"

This would not apply if you get a loan with a personal guarantee.

However, the exemption doesn’t apply if your building is a i) Professional office of a health care provide ii) Public transit station iii) Airport passenger terminal iv)Shopping center or mall ...

My business partner and I are seeking the best way to apply for conventional loans on future investment properties. 

But for a couple of responses, this is some of the worst advice I've ever read and does not apply to NJ.

In Texas, I always assume a tenant has a gun so no way I would consider this and the is no one does thisThe same list of exempt items  applies to collecting a judgment.

I have seen this rule not applied, but have also heard instances where the rule is applied.  

My current tenant had 802 when she applied two years ago and didn't have any issues through the pandemic touch wood!  

@Nathan Barshinger when yo apply you have to tell them your status.

The challenge is vetting the potential tenant when they apply.