You could agree with the Seller that you will accept up to $10,000 in the special assessment and the seller covers the remainder.

You are competing against other owners who have a much lower basis and/or debt cost to cover. 

I am guessing they probably raised $15-25M from investors for the deal, so while the bank would still be covered investors would appear to collect maybe 10-20 cents on the dollar if they were to liquidate.if that's the case then I don't see buying one year really does anything unless I am missing something ? 

@Roman Balmakov If you are planning on holding the property long term and have enough reserves to cover even worst case scenarios it could still be worth it. 

If the loan lasts many years or it becomes a problem child, the points we get does not cover all our efforts.

$6000 is a large mortgage to cover for a vacancy. 

Partner Driven covered 100% of the financing, including the $220,000 purchase price.

(I am starting investor, please understand)So many guys are buying in second-hand market, when original can not cover their mortgage payment because of the depreciating rent, and let go of their property at great value.

If you are skilled in each of the areas above, and you have enough in reserves to cover the costs of when things do not go as planned, then you can likely attract money from private money lenders who want to get a return on their money and they see lending to you as a low risk way of earning a better return than in the other passive investing options they have. 

When you called, and it seems many did, the scammer answered the phone using my name (though I understand with a heavy foreign accent).