The new rules prohibit HDB owners from owning another private ppty within the MOP.
Suppose he registers a new company, puts whatever cash he has into that company; takes a bank loan out on the remainder and purchase a private ppty in the company's name. Then rents out the private ppty.
As director of the company, he can pay himself any amount he likes and makes it appear the company is not making any profit. Minimum taxes paid.
Any other work-arounds you guys can think of?