The condition of the property is good considering it was built in 2006 and its been more preventative maintenance than repairs.Rental 2: 4-plex (each unit 2/1 approx 830 sq ft) - Battle Creek, MIIn 2014, I jumped into the deep end to bought a multifamily property.

Long-term lenders (other than banks) will most likely want partnership equity equal to their investment, just because if you lose interest in real estate or god forbid something happens to you in 5 years that prevents you from being able to keep up with the property, They will want to be able to step in and protect their investment.Just a couple of things I would want to know... but, like i said...

This would prevent that I think- This seems like a cart before the horse situation.

Sounds like a lot initially just to basically be "on call" and do light-to-moderate repair work and preventive maintenance.

And you can't get title insurance if the property is occupied, which would also prevent financing. 

Partly to prevent the bank from collateralizing the entire property with the small loan for this cabin and partly as a strategy for "options" should I need them in the future.

I certainly understand the intent of state law requiring the verification of covenants to prevent things such as landscapers and other invasive, disruptive businesses from ruining the feel of a neighborhood.

Since we have no idea, I suggest not altering your strategies based on guesses- we all must hope that the system of checks and balances is robust enough to prevent an apocalypse. 

How can I prevent this if I were to purchase it before the auction?

How Overlays Prevent and Kill Deals.New lender.