HOA Lien purchases is a game that can be quite lucrative assuming:1) property is in judicial state (states where lender must file lawsuit to acquire property title)2) purchaser is well versed in foreclosure law 3) purchaser researches hoa cc&r 4) think of arbitrage not capital gains when assessing risk

After moving out it would be cash flowing negatively around -$1,200/month before taking into consideration capex, maintenance, etc. but while living there and renovating the unit we will have gained approximately $125,000 in equity.Property #2: 3-bedroom unit with a separate basement entrance that could be converted into a 1-bedroom basement apartment, but in a slightly less appreciating neighborhood.

Also, if any investor in the NYC area is looking for help, I would be happy to work for you in my spare time to gain a little bit of experience!

If your schedule allows volunteer for town boards or run for election and get where you can gain insight on the inner happenings of your city.

Then you've got all the pieces playing off each other and can start benefitting from consistent exposure.  

Whatever you do, it sounds like it will benefit you in the future while providing another place for someone to live.

With your large down payment they will still be mostly break even, but over time you'll benefit from the crazy appreciation that has been happening consistently in California for a century and the rents WILL eventually catch up. 

Anyone thinking about home hacking will benefit greatly from your expertise on managing HOAs and how they affect various rental schemes.Ultimately, developing a plan that complements your lifestyle choices and financial objectives is the key to effective home hacking.

Many investors discover that, as they gain experience and modify their tactics in response to changing market circumstances, individual objectives, and lessons discovered, their original strategy often takes on new forms over time.Preventing Obstacles: Although beginning with little to no money could be difficult, it's important to be aware of potential hazards and obstacles along the route.

BP is a great place to connect and gain so much wisdom.