I switched over to them this year from a previous CPA and they did a much better job with communication and customer service. 

The investors are the ones that do not belong.HOAs protect the rights of home owners, not landlords, and landlords should respect the HOA or not invest.

Aren't there laws protecting tenants from exactly this?

The question on the exam in question is clearly referencing this type of illegal flipping, which is still illegal.Now unethical flippers will most likely open themselves up to civil liability, which they probably have some protections against depending on what entity they use to do the flip in.

We are a residential general contractor from the Nashville TN area who specializes in custom home renovations.

AttorneyAre you buying in your name or an LLC’s name, using trust or otherwise protected?

(All I currently have is an umbrella policy for protection). 

But there are lots of things, if I am going to take a project with an experienced investor I will expect different things than a newer investor or a custom client who has never built anything.

Only down side is I haven't found how to customize the expense categories to what I want them to be or to make them more specific that just coffee shop.

@Tracy Royce  in this business if your doing any volume your dealing with one or two of these a year.Always tough.. although what I finanally learned is that it rarely gets better you just need to bite the bullit and follow the letter of the law.NOt sure about protected class. but I have one right now in my market that could go that way.it took me 18 months to close and it was my first suit for specific performance in 42 years in the business... phase two is to move this person out.its a city lot the house was so bad I paid over 60k in city code enforcement fines to close escrow. that's just the fines folks..