We have HOA's and while they make sense I personally would never invest in them again if I could get away with it.

First, you need to get away from those friends, pronto!

@Ceasar Blackman I thought about Climer too, their YouTube videos are really great for quick understanding of the "real estate math".

You dont have to travel to purchase non-performing notes, but i would suggest you get some training so you have some sort of network to help you in other states.Here are some excellent videos to get started with from @scott carson https://vimeo.com/search?

The reason they do this is because they’ve lied so much that they need to change their identity and story every three years so that out of state people can’t look too much into their past deals.Once they’ve sold enough houses, made enough money, and ripped enough people off they shut it down and start all over again.How they get away with it year after year is beyond me.

He is shooting video for us also. 

ArticleId=659 One great point Mike makes in the video report (corny as his intro is) is that capex isn't just for roofs, HVAC and repaving the parking lot, it also includes refreshing the property with new/updated amenities to keep it competitive.

There are plenty of free videos on YouTube of people teaching how to do this.The key thing to remember is that no one, not even a RE Pro, is going to just hand you a killer deal on a silver platter.  

There's pictures, videos, etc., with the opportunity to ask questions on various stages, products, designs, etc. 

Most should get away from the guru notions of protecting imaginary assets.