I bought HOA lien auctioned at sheriff's sale.I read in other posts that if owner did not pay HOA dues most likely be defaulting on the Mortgage too.. that is why I was thinking about my next action.

Banks are settling rather than bearing the costs of continuing with the foreclosure action. 

Hi all, I have been pouring through BP and many various other resources for about a year now in order to try my hand at wholesaling, and eventually rehabbing; I'm finally reached the point of action, but still have many questions. 

I have also gained a lot information in order to take action and put together a game plan in order to start my investing career into real estate.

You can rent the home, if you violate the acceleration clause or due on sale clause then you are subject to the lender taking action as agreed, at the lender's option. 

If not you still have the current course of action to follow, but if they can then maybe you can get approved based on your cancelled check ect.   

I decided it was time to STOP READING and TAKE ACTION.

Take action- even if you mess up, even if you are scared, take that all-important first step.

While I doubt they'd send you to the pokey for illegally renting an RV on airbnb (unless there was a grave injury or some other high profile badness on the premises), Orinda seems like the sort of place where people care quite a bit how their neighbors' actions affect their property values.  

Keep doing your investing on the side until you can replace your full time income.Keep reading and learning to build your confidence and take action despite any fears you may have.Good luck.