I'll get straight to the point.

It's fairly straight forward. 

I have actually closed 3 deals last year hard money loan with Scott he is straight up honest and tell you you as it is a good loan or not.

THIS IS WAY TOO LONG. this document is critical to a wholesale investor because it is what protects us from any dishonest sellers/buyers cutting us out of a deal. i do not want to know what it feels like to lose money on a deal just because i couldnt get this figured out. 

Some cover all of the rehab and then cut your LTV for the acquisition while still others require payments during construction and others don't. 

You'll need to be 100% transparent with the owner and probably either pay him higher rent or cut him in on the profits.

When you consider that the HOA fee is almost equal to the property tax and the rents are not very high, then the HOA fee cuts deep into your profit.

That would make the most sense as not to take away from cash flow and to cut expenses ASAP.

First, if you have a passion for investing in real estate but don't really want to make it your full-time job, then you should either go to university and get a degree in a field that interests you (having a job makes it much easier to access loans to finance deals) or start working straight away and join university in 3 or so years (many universities have a lot of 'older' student supports and discounts and this way you enter uni with an income). 

@Jonathan Klemm We had rosario terracciano on the Straight Up Chicago Investor podcast and he's the CEO of ClickInvest.