I prefer to get to them before a sheriff sale occurs.

I can listen to books and educate myself on whatever I want while at the gym, in the car, etc.A couple I'd recommend to you based on your post are..FLIP - How to Find, Fix, and Sell Houses for ProfitThe Book on Flipping Houses How to Buy, Rehab, and Resell Residential PropertiesThis book is not currently available on Audible but a must readThe Book on Estimating Rehab Costs - J ScottBigger Pockets has become one of my best resources.

My goal is to start with a solid foundation, and I would prefer to hold this property for the long term, making enhancements as needed.This property is in an area with many homes built around 1900.

Hey Michael, as you mentioned HOA has been steadily going up every couple years so that is a factor to consider for sure.

You never know a person's situation.A couple other reasons why a person would seller fi:1) they have had other offers "fall out" due to any number of issues with financing2)  they have a "unique" property, which may be difficult to sell using institutional financing.

It's important to stay informed about local laws and regulations.Market Volatility: The real estate market in vacation spots can be more volatile, with property values and rental demand potentially affected by factors like natural disasters, changes in tourist preferences, and economic downturns.HOA Fees and Restrictions: Resort condos often come with high Homeowners Association (HOA) fees to cover amenities and maintenance of common areas.

So far I found a couple people but not someone independent yet.Correct, this would be a private placement.Posting on a crowdfunding platform is not the route I wish to go as I plan to make my Series offerings on my own platform.The key that I am seeing so far is that most (virtually all) brokers/RIAs do not have the software in place for handling fractional real estate. 

Given your first right of refusal and the owner's preference not to list the property on the market, leverage these points in your negotiations.

Then things really got rolling and I bought a 4-plex a couple of months later that was already rented during the renovation of the original SFH.

I have a couple years of experience using Quickbooks so I'm pretty familiar with the basics.