Also consider that a deal is NOT what is advertised its what YOU make of it by negotiating, rehabbing, managing, etc to maximize its potential.

Seem you may need to hire a property manager in New York.

You're ability to manage is what will make or break this.

I am committed to managing the project diligently, ensuring that every aspect of the rehabilitation process is executed with precision and efficiency.I am open to discussing various investment structures and terms that would be mutually beneficial. 

@Lucas Schlund there are logically, 3 options:1) Buy Cash: PROS: You can get better prices on houses because you can close faster with motivated sellers and buy houses that need repairs to qualify for a mortgage (less buyer competition)CONS: takes the longest to save the funds2) Use Rehab Loan:PROS: Same as #1CONS: more expensive loans:---FHA 203(k): not that expensive, but must live in the property for 12 months before renting---DSR Rehab loan: relatively expensive and may need experience to qualify3) Mortgage on Property with Cosmetic Repairs:PROS: easiest & cheapest to doCONS: lots of competition, so can be hard to find a "deal"PM us if you'd like to discuss these in more detail.

I was a property manager for my mother’s investment properties before she passed with dementia, and most of her tenants paid on time, except for one I had to evict.  

In future years’ budgets, the association should consider budgeting for an Operating Contingency (funds not earmarked for any specific expense) or should consider creating a line item specifically to fund Prior Year Equity in order to bring the balance into the 10-20% range.If the board doesn't know what it is doing financially then they need a management company that does along with an accountant that understands how HOA's work.

Then why do you have a 10% management fee?

Many of the lakes have local STR management although not cheap.  

Those figures are based on market data and info I received from a property manager who toured the property.