When someone else is on ownership (or deed/title) then they would need to sign a couple of things at closing to give permission for a lien to be applied to the property they own - but that doesn't mean that HAVE to be on the loan. 

With your VA loan as @Johnny Lynum says, you could get a nice property for little down.

Quote from @Amanda Gauthier: Who do you use for PM for your properties?

I have spoken to my neighbours but they do not know who the HOA board members are ( it is a large complex with 100 + townhouses).It is very strange but it has not proved to be a problem in the past as the management company deal with the properties externally ( eg painting ) and the common parts and have always done so competently and individual oners deal with the inside of the properties.They are now proceeding with the painting without doing anything about the termites.

Quote from @Jim Reynante: After owning properties C/D neighborhoods with high crime statistics, I have experienced all of the things that go along with it: 1) High turnover rate; 2) Tenants that don't care for the property; 3) Little/No appreciation in home value; and 4) High Crime Rate (burglary, vandalism).I am pretty tired of fixing broken windows, fixing broken doors/locks, and painting over graffiti.

(unless the property you’re buying is 5+ units then e financing may not cost more.)

Personally, I have found occasional private lending to be a good networking tool and lead generator for what I'm really looking for - properties I can develop. 

Simply deducting prorated rent from the deposit is simple and clean and hard for them to argue since they communicated this schedule to you and that the property wouldn't be ready to turn over to you until the cleaners were complete.

I'm not in that market but I would recommend finding off-market deals, targeting distressed properties, or focusing on smaller multifamily units in less competitive neighborhoods.

It is a rare off-market property that does not involve work and/or have risk items.