Ultimately I want more residual income and I'm thinking if I can get them a good return and could have a little residual income from each property that would be ideal!

Sorry but my opinion is that you will not survive in this business.

Every investor has different goals, strategies, risk tolerance, etc and it all will affect how they decide to go about their acquisitions.That being said, when talking commercial real estate you ultimately have one goal: keep your income as high as possible and your expenses as low as possible which then translates into a higher NOI and in consequence a higher value of the property.

Were they ultimately approved or denied?

You ultimately want the HOA to be very healthy so whenever you want to sell one day - your chances are higher, and the property at large is likely to be well kept and maintained4) identify the politics - can you rent?

ultimately it's going to come down to NOI and a cap rate for valuation but assuming you are going to use bank financing, they will want to see an appraisal. 

I've lived through two of them and prospered greatly in the first-oil market collapse in the '80s, and survived handily during the second-investment banker's scam of the 2000s.The first time I paid cash I noticed the first benefit at closing when I looked at the HUD-1.

Then I would run a projection of what the numbers will look like using conventional financing.The length of time depends on how long the investor would like to tie up his money and how much money he ultimately wants to make on this deal.

Ultimately, if they are trying to lock in a long term "good deal" for themselves they are really just screwing themselves because they are lowering the value of their property exponentially.You don't make clear whether or not you plan to continue using the PM.

I ultimately would like to be a successful real estate investor and to create my own development company if opportunity allows for it.