Sorry you are dealing with that, it sounds awful.My guess is most attorneys are going to charge hourly on something like this unless you are suing the HOA for damages in which case they may take a contingency fee.

Getting one property and cashflowing it will be a challenge. you can try seller financing but you are still going to be highly levered which just enhances the risk that you are taking on.The best way to grow is to focus on managing your rental, saving money through your W2 and crushing that - if you are a realtor you will make more crushing it as being a realtor than over leveraging real estate - then save for down payment and buy slowly. its not a rush.

I'm not too hung up on this, because the margins still appear very attractive (from what the agent speculated ARV). my hesitancy stems from a lack of experience and direct steps/plan of action to take on a property I like. 

This brings me to now, I've taken this approach and have used my own money in lending, but am also bringing in friends and family to take part in these transactions so they can earn way better returns than with CD's.

Should I take out a second loan against the property?

Unfortunately, while all the online places area great sources of information, you are much less likely to take action, or find someone to shadow, when online in a forum. 

@Jaycee Greene, I have to learn more about house hacking to take a deal like this. 

Apologies if I missed prior posts asking the same thingI want to take advantage of the low down payment requirement however need to find a lender supporting this loan type.Can you please provide any recommended lenders for Homestyle loans (or even 203k) that serve DFW? 

I wanted to take a moment to introduce myself.

Someone takes over your STR, they will be starting from scratch.