Some of these renters are capitalizing on low interest rates and choosing to buy, but many are unable to buy due to lack of down payment or credit factors. 

I have heard that CA is very competitive and very difficult to find deals in.

I find myself lacking direction and my steps.

- The HOA’s apparent lack of urgency to fix the roof.

They also want a priority lien on the property.It sounds like you are looking for someone to fund your down payment, I would be looking for an equity partner over debt as nobody likes to lend money in insecure positions, especially when a borrower lacks skin in the game.How much are you planning to come in with yourself?

If you've got people fighting over your listing and competition trying to get into the unit, then you're too low.  

Check your competition and make sure your are under them if reasonable to do so.

Miami seems very interesting, but maybe too competitive... what do you think?

If you don't understand some facet, ask questions, don't pretend that your feelings will be right because you lack knowledge and fact's on something. 

Many real estate operators talk about lack of volatility relative to the stock market.