When I filed the complaint, the HOA ignored it and refused to do anything about it.Do I have any legal options to demand proof for the noise violation? 

I press with legal to force the borrower to make a decision on 3 exits, once they choose the exit, It's up to me to handle exit and put us both in the best position. 1.

@Derek Dombeck Option contract is a nice way to legalize the handshake agreement.

I believe the law in CT states that there needs to be legal representation for properties that are owned by a company. 

The cost of legalize these building in the neighborhood is way too high. 

I’m happy to help you through the legal side of things, such as setting up the best entity structure for your goals, and the actual real estate nuances of the law.

Be sure to work with an attorney to make sure your loan terms are legal. 

Can I ask why would it be more difficult if we are now the legal owner?

What is the zoning, if the property is zoned for single family but was converted to a duplex, you could face legal jeopardy.In sum there are plenty of legal and well built multifamily properties, I wouldn't risk it on a conversion to possibly save a few bucks in the short term.

I know the there would be lots of hidden risks (e.g. lien, legal issue, etc) when you a wholesale property from a wholesaler.