I'd rather avoid the restrictions and unknowns of dealing with an HOA. 

They are essentially my "mentors," and in return for their service to my business, they get equity in the form of restricted stock. 

They call this restriction a "continuity of obligation."

So on a 150k house, you're looking at 6k in taxes.Even though just next door in indiana, they have a state law that restricts the counties from charging any more than 1.25% of the assessed value.

I know where I am, the city keeps trying to restrict rental conversions in the university section.

I think if anything is immoral,  it is restricting the supply of brokers.  

Because if so, you should be contacting the listing agent.You have a bigger issue, though, because the banks put deed restrictions on these properties.  

At this point, there are no Arms Length issues or restrictions.

If they did not, they need to show the reason why they bought as an intended owner occupant and the circumstances changed so they could not.The other quick fix to that is that HUD could VERY EASILY put a restriction on the site that you are only allowed to buy 1 house every 2 years as an owner occupant.

So, if a property is wholesaled to a local investor,  would I expect the investor to know about the redemption period & the restrictions during the redemption period?