You just have to stay consistent with your lead generation.

We stayed at a Lake Community in a multi family apartment/condo style building.

3- Are there any tax consequences of which one should be aware?

Should I immediately rescind my offer and tell the seller to fix that situation and get back to me after, reassess/resubmit the offer with the eviction factored in, stay put and inquire more about the eviction, or whatever else I'm not thinking of?

but I will take a guess at what your askingif the developer is going to bust this into lots and you stay in you just lost your tax advantages and will be deemed a dealer at the highest tax rates.sell now no risk.. and best tax treatment you could 1031.if its one property and your saying should I partner and they are going to build an apartment on it and we will keep it.. that's different.. but you lose control because your now going to put a massive amount of debt on it.. all though in your area not too risky given market conditions.. and really depends on your developer  known, reputable and stable ?

My instinct was to exclude those in my search as I think they would be less likely to rent (or to re-sell), but I'm aware it may just be exposing my lack of knowledge of other markets. 

Hi @Roy PomesWe typically stay away from homes that are under contract with a Realtor. 

Also my wife would be getting the money in equity so it stays in our pocket and we dont “lose” on the purchase end.  

Stay away from drug and gang infested communities, and wait patiently for the right tenant.

It is also not surprising that typical residential lenders would stay away from this type of property as well due to the commercial use aspect.