Loans are non-recourse. 

Depreciation is a deduction against passive income (Sch E), and it is never "written off against ordinary gains" (which is not a correct expression either way).Here is the IRS Publication 527 link.Dealing with HOA is not my area of expertise, but I suggest to approach them nicely.

Check out AirDNA, I love the site as you can get market reports on public data scraped from Airbnb's site.

I wonder if someone, who has had hands-on experience with arranging an owner-occupant loan for non-resident can help out my clients. 

The following is why I am a little lost:If I were to have my mom sell me the property, she will have to report the income for tax filing, and she is currently unemployed, and getting government assistance (I don't want to mess anything up).

I've been asked this so much that we're now working with a group of investors to help others invest and to possibly build some new RV Parks.Btw - as an investor, I focus more on the non-pretty Parks that are more like Mobile Home Parks but also now interested in the resort/pretty parks.A few things to keep in mind:Permitting will be the biggest challengeUtilities - is there water available, wastewater options? 

@Joshua Lafferty If you will co-sign as non-occupied co- borrower and you are not family member you are at 75%ltv even though this is FHA loan.

Hey @Joseph WrightI don't have any direct experience with pre-existing MF now zoned as single family, but I am aware of situations where the sale has caused trouble with the grandfathered in non-conforming use.

If you can not wait till tenants move out on their own, allowing you to do electrical during vacancy, I would non renew one tenant at a time to complete the necessary work.

Wait until they show up with contract in hand, otherwise take the free publicity of the property.Just my 2 cents and not legal advice.