But I'm fairly confident that if I hadn't had a "just do it" mentality and bought that first property, I might not be an investor today.I totally agree with @Joe Villeneuve about being careful with your home equity, and I think Sam J. proposed strategy is a great one too.

I will admit, the general phrasing of the post may make the building and situation sound a little worse than it is.There does seem to be confusion around your role now and in the idea of the proposed transaction.  

I think you'll be OK as long as you get good tenants. btw, what is the GRM at purchase and after your proposed rent increases, if you don't mind sharing?

when describing your proposal and you'll win signed contracts most often.

I'm a bit ticked about the proposed rules they are trying to get passed in my HOA.

What do you propose is a better solution for motivated sellers who have no equity?

With this deal that is being proposed, it seems to me that the profit should be somewhere in the 75k-100k range so who cares what rules or guidelines there may be.

This period of repositioning the property until stabilized is a cost many new investors don't consider.Given the property is 50% vacant and needs repairs can you get the financing proposed?

I am interested in proposing a subject to deal to an absent landlord who is listing through a Realtor.

Usually the lender will propose terms which a borrower either will accept or not.