I'm a fan of smaller associations where you can be a big fish in a small pond (that's what I own), but I'm not sure i would invest in a condo complex where there's a lot of decision makers.  

There is no Alabama appellate decision on this point.

Starbucks takes awhile as a national tenant to make a decision.

Analysis, Analysis, Analysis- Make your decisions based on data, not hunches (unless you have some kind of inside information). 95% of the time you will be able to find market data to support or not support an investment.

Our goal is to become financially independent and believe Real Estate will ultimately help us but we want to make good informed decisions. 

Do they even have authority to make decisions about the property?

Just any holes or concerns that I should have so that I could make an informed decision. 

I know this will be a large financial decision that impacts me for years to come and I want some thoughts on my strategy.

I am able to run reports on a dime and make decisions quicker on properties I am considering.

The problem with pointing a finger is a) at the decision making of a government entity who will have their own rules posted b) how long a time frame from close to the zone change and how long was vacant... c) what is the difference in value?