However, we do own a vacation property in Cape Cod that has done extremely well for us.

Regarding financing @Ham Merritt is spot on with everything he's shared and he knows the Milwaukee markets and lending options extremely well - a great resource to leverage.

Greg,Always a concern on dues, special assessments, what type of board members do they have, are they physically sound?

I'm sure they go extremely fast. 

If you can put together a great group of Sub-Contractors that's all you need, they will each let you know if they see something wrong on concerning on your job.I don't know if that helps at all?

However, my concern is its Compton. 

I am new to the phoenix Arizona area I just came across a deal and i'm wondering if the numbers add up the house has a mortgage on it that the sellers want to be paid off the area where the house is in a decent area they did some work on it they added an extra bedroom so instead of it being a 3br/2th its now a 4br/2th 1,400 sq foot with a lot size over 6000 sq ft the mortgage thats owed is 53k the house needs minimal repairs it really just needs to be updated they want are asking 102k free & clear and they want the mortgage of 53k to be paid off  total asking price including the mortgage price 155k is the total asking price houses in that area have sold for a wide variety of price range is my concern they range selling price is anywhere from 80k all the way up to 210k  properties withing the 1 mile range of the house have sold for 170k to 210k is this a good deal or should i try to go back and renegotiate the deal

I'm extremely confused.

I️ am getting concerned because she doesn’t have any leases and each room is already occupied.

I am extremely hands off, so I don't expect an issue with active involvement.Thanks again for your insight.