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.

Often times these approved vendors are more expensive than the individual you can contract with on your own because they know they are the only show in town.3.

That will be up to the facts of your individual case.

Quote from @Miguel Del Mazo: Thank you for the discussion @Corby Goade .I feel like we are biting off big pieces of a complex topic, and I think it would be helpful to focus on either the interests of the property owner or the MTR operator to simplify things,I think your greater objection to MTR arbitrage lies with why a property owner would want to willlingly enter into the agreement, so I will focus my reply on that. 

When you don't have cash, you need to partner with individuals who do. 

Occasionally, I will get an objection from an off-market homeowner that "might" sell saying...

I'm curious to know if anyone has enrolled in courses offered by individuals like Tom Cruz or Section8Karim.

@Yixuan Du I would recommend going to local Real Estate Investor meet ups in your market to meet like minded individuals like yourself who have already done what you want to do.

•My California LLC serves as a holding company for my out-of-state LLCs that own the individual properties.This structure keeps things organized while ensuring compliance with both states’ regulations.As for your bonus question, it depends on how the property was purchased.

This guarantor, who may be an individual or another entity, will be responsible for the difference between what is owed to the lender to make them whole and what has been recovered.If the lender makes the loan to an individual (natural person), this person is implicitly the guarantor via the note, and no separate guarantee is needed.