He might give better terms than what you were thinking of offering.If you do decide to form some kind of partnership have an attorney draft the legal documents.

If illegal theft or destruction of property is happening, call the sheriff and document everything.

And what did you have to give them in terms of bus. plans, financial documents, ect., in order to obtain the financing?

BP members, Hello, now you all can watch this Stress Test of the screwed up Citizens Home Owners Insurance that we were tricked into.

In general, when you purchase a home in an association you are bound by all of the CC&Rs a.k.a governing documents, which would've included all the rules around rentals.

If you are looking at a duplex, you would have to live in half in order to pay less than 20% down (maybe 15% some people say, but Ive never seen a bank loan 85% LTV on a non-owner occupied).To answer your question - I would have 4 months of straight mortgage payments PLUS your insurance deductible. 

i have also heard discussions about doing your own title search in the first place.. and not getting insurance or having a title company do itthe threshold of whether or not to do it  seems to be the cost of the property...

Investment 60,000Monthly rent 1050.HOA: 300Monthly Tax: 100Monthly Insurance: 20P&I:245Maintenance(10): 105Still 280 Left

Include X percent for repairs, when there's not renters, tax, insurance, etc.  

Auction.com lists a few important docs: Trustee Sale Terms and ConditionsSample Trustee Deed Upon SaleSample Certificate of Sale/ReceiptIRS Form 8300Foreclosure Property InformationTitle Insurance Policy InformationI think the 1st four docs are those I need to fill up, sign up when auction is done.