If I purchase a condo for renting out, would there be a chance later on that the condo association would discontinue their rental policy.

SFRs you can do 15% down, 2-4 unit investment properties require 25% down.Many lenders don't like leading with the investment property SFR 20% and 15% down options because the associated rate bump is significant.

I am the President of the Illinois REAL Estate Investors Association.

- Are there other resources or associations that anyone would recommend for commercial real estate investment dealing?

Those considered sophisticated are those that have an understanding of the risks associated with investing.

Hi David- if the area you are looking has a realtors association you could check their website as it may contain some stats of interest.

Try the National Association of Property Managers.  

It seems like my association already over charges people and now I'm receiving a fee like this.

The banker seems to think very highly of this realtor, and by association with him the loan process seemed very smooth.

@Katie Haney I agree with @Brian Ploszay on the point that there will be some additional costs associated with the property at that price point in terms of repairs.