I purchases a property and got the taxes lowered by getting it assessed to purchase price. 

My understanding is that if the people investing (which doesn’t matter if it’s 3 people or 100 -I don’t think) don’t have an active role or responsibility outside of the money, then the deal should be structured as a security.  

It depends a lot on price point, location, and the “showable” condition other active/pending/sold listings within the neighborhood. 

Find out if there are any special assessments currently levied, or if they anticipate any soon, whether or not there are any lawsuits within the association and of course whether or not they even allow short term rentals because some don't.

For subject-to transactions, the POA won't get around the "due on sale" clause, but it will help you do very important things like cash escrow refund checks and insurance claim checks, and other borrower-centric activities.

They have been life changing for us and I am sure for most of the active members on this site.

It's 99% likely that those 12 offers were submitted by clients that have an active buyer's agent. 

Make friends with someone who is active in your market.

Cap rates have been compressed as prices have continued to rise, but I know there are deals within and even outside of those ranges you state depending on what you are looking for when considering passive versus active investing. 

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