Answers are very different depending on objectives.

I'm hoping to use the capital gains to acquire an apartment complex since my main objective in real estate is cash flow.

Thankfully, the real estate commission approved Contract to Buy and Sell sets deadlines for receiving HOA documents and specifically allows the buyer to terminate in objection over such restrictions.Real estate is cyclical.

Sure we overcame objections and built value around us but they came in with an agenda.

An additional benefit of identifying your lane is that you can take the advice of other investors who are focused on a different REI strategy in the context of how that advice applies to your lane, rather than giving in to the urge to completely switch to what they are doing...commonly known as shiny object syndrome :)  Good luck on your journey! 

Do you look for the cash flow to double the principle/interest/tax/insurance? 

Even though I used to work in banking and the mortgage brokerage industry, planning for financing using non traditional lenders is a major objective.  

You can pull out any principle you've invested (after 5 years I believe) without penalty, but this should be a worst-case scenario IMO. 

Don't forget, it's not your primary residence, it's an investment object!

If you disclose you are not representing them as an agent, are acting as a principle in order to resell for a profit....no problem.