They will evaluate the contract with the builder and the budget, make sure it falls within market median costs, and set milestones for draw requests. 

Also, calculate potential profits by considering purchase price, renovation costs, comparable sales, and expected rental income or resale value before doing a deeper dive into the specifics. 

I paid cash, but borrowed 30k from a family member to cover some extra costs and renovation, the HOA fee is $135, and I pay my family member $500 a month until the 30k is paid off.

This typically costs money, maybe $.02 -.10 per record.

There are a lot of programs available to help with renovation costs being built into the loan on a primary residence purchase.  

So much so that it's been now dubbed the super peso and it's causing headaches to Mexican developers who sell in US dollars and have their costs in pesos.The reality is that you actually don't necessarily need to spend a ton of time understanding international real estate to invest internationally, although doing so would definitely increase your success, of course.

What are the operating costs associated with this ?

The intent is to cut down on the cost of applying for rentals, particularly for renters that have to apply more than once in a competitive market.Do you support this?

There are hard money lenders who will fund trustee sales (at least in AZ there are) for up to 85% LTC (loan to cost), and some of them will even finance 100% of rehab. 

If the Seller agreed, there would be some closing costs, and the wholesale fee to comeup with.