@Anthony Becerra I believe you are looking for a pre-approval letter.

I discovered this property through an acquaintance when it was nearing the end of pre-foreclosure.

For many of us, our cost structure would be higher than yours (vacancy, turnover, maintenance, cap ex) over the long term.

I'm hoping things move a little more quickly once things go vertical as I heard getting slab poured is the longest wait but I'm assuming there is a labor/material shortage in general in the area so wasn't sure of people's timelines once slab has been poured?

The older the home the more difficult (and therefore expensive) it's likely to be to restore a home to pre-loss condition2.

I'm considering purchasing a condo or a small SFH in the Oceanside/Carlsbad area as an investment property and renting it out on a short term rental site like AirBNB. 

Paying off the notes, working to pre-emptively make repairs to capex items before they fail or become a major issue think roof, HVAC, and foundation.

I assume you currently have a residential mortgage that does not have a pre-payment penalty.

I discovered this property through an acquaintance when it was nearing the end of pre-foreclosure.

Buy the property, lease it up and refinance.One thing you’ll want to know about the credit facility is not necessarily the margin call parameters, which I wouldn’t be concerned with if there is a significant amount of equity in your investors securities securities portfolio, but what are the other terms?