My first deal was for a 225k house that was in terrible shape; conventional financing wasn’t possible, so Seller had to have an all cash buyer or come TO TERMS with acting as the financier... 

This is a great place to start and then the meetup that meets at the Stardust by Alex Bock and Shawn Farris has a good following.I'm always here to answer any questions you may have on the investment side from a financial standpoint as well!

@Isaac Agbolosoo I believe they use Yodlee to grab transactional data from banks, a service that many other financial software uses (Xero, mint...). 

If the HOA is not financially managed correctly, what else is mismanaged?

.- or you could blame the offer on say your financial position like you’re only approved for that amount or something.I’ve personally called craigslist rental listings to try to buy the property.

The type of deal ( hold or flip), your financial situation and goals, the timeframe, price range, and many other factors bear on the decision.Bill Crider

Which of the financial strategies for the US real estate market do not apply to e.g.

The financial losses from bad residents and turnover costs even when they are perfect will F your model beyond repair. 

End result it seems we are getting the upset price of 236k, so not a total disaster , but still a far cry away from the 100k per year NET I would be getting or sales price of 600k or more.   

Here is a list of items that a hard money lender would like to see:Project Financial Analysis - Breakdown of your financial analysis for the project showing your ARV, Repair Costs, Buying Costs, Holding Costs, Selling Costs, Financing Costs & Projected ProfitRepair Estimate - Summary of Repairs broken down by CategoryProject Scope of Work - Detailed breakdown of all Estimated RepairsComparable Sales Data - Comparable sales analysis of at least 3 similar, recently sold compsProperty Photos - Photos of the existing property conditionYour Resume - Your resume of past experiences, & action plan for the projectI have uploaded a sample Investment Presentation in my fileplace as an example:https://www.biggerpockets.com/files/user/drobertson/file/sample-rehab-investment-presentation-for-lender