Those two units were converted into a duplex up at some point and I needed to refinish both floors and put a new kitchen back up on the third floor that the previous owner converted into a bedroom. 

The third benefit that I would be able to see is that we could increase the rent to gross 100K.  

USAA does have an agreement with a third party company, but they were much more expensive for much less coverage.

I would offer that you place a third party manager that is acceptable to the seller in lieu of a bond.

Can't blame them for trying.The third one I came close to renting to but by the time he got his paperwork to me I had decided on someone else. 

Homeowner Association Information Request2.what statements define the terms of an agreement and give the other party cause to void an offer if the terms are not met?

Now you negotiate to come to a point that both parties are happy.

They must pay the same as any other redeeming party--12% interest per year on the taxes due plus 12% on the overbid, up to 15% of the overbid (example below).

We haven't tried bringing private investors and third-party money because we want to gain more experience before doing that; we also have enough capital to invest for ourselves, as long as we can get financing to get a higher cash on cash. it just doesn't make sense to go hundred percent equity into rental property. 

The difficult part is not letting your soft side give them the benefit of the doubt and allow them to get too far behind in the first place.