The housing agreement bylaw simply states that the unit cannot be occupied by the Owner, or the immediate family of the Owner. There's no mention I can see that requires a property management company to acquire and operate all 10 units.
So the developer would retain the right to sell all, some, or none of the units to investors.
In response to your comment, NParker, I've lived in buildings where the developer retains a significant number of units for the first few years after completion (sometimes this happens as a result of buildings being completed but the units take a long time to sell- I'm sure this happened in the original Hudson, though I did not reside in that building). There are times that a developer's interests may be in conflict with the interests of other owners- though, to be fair, that can happen when any one 'interest' becomes too powerful on a strata. I once looked at a condo in Vancouver that was located in a strata building where a single *individual* owned and rented out 2/3 of the units; once I discovered this my interest in the property waned as this single landlord would essentially have control of the council.
Edited by Kapten Kapsell, 11 August 2017 - 08:50 AM.