Good Luck, Luis Maquiera   Miami Multifamily buyer

I then modify those numbers based on the buyer's preferred down payment/return hurdles.

It will familiarize you with the basic terminology and benefits.

But some believe condos are riskier due to potential mismanagement of the community by the HOA.As an out of state buyer seeking a low risk/maintenance LTR, are there any glaring downsides to buying and renting out a condo? 

Buyers have pretty much dried up and have the power currently.

@Michael Smythe - Agreed it is all basic stuff to you and I in the field of PM.

After researching the basics, I am looking forward to understanding the realistic steps in concluding a first deal.

I essentially present to them my numbers of what I can redo the property for, and they loan me 80% of the ARV basically no questions asked except for an appraisal.

From my research, it seems that the best way is to ensure the end buyer's funds are at title in escrow (with the clear to close) before you approve the release of your funds.

Assuming your property is in Utah (like your profile indicates), here's the state law from a basic internet search:In Utah, a tenant who abandons a rental property without notice is liable for the lesser of the following: The rent remaining on the leaseThe rent plus the difference between the fair rental value and the agreed-upon rentThe cost to restore the property to its original conditionThe landlord can also remove the tenant's belongings and sell them if the tenant doesn't claim them within a reasonable time.