I’m just starting to gain some knowledge of real estate and would like to know what’s the best way to start on my first deal?  

This was the home we raised our children in and have held on to it to avoid capital gains tax. 

I'm trying to understand what due dilligence I need to perform and educate myself on how to gain control of the HOA after I purchase the majority of the units.

Hey Will, Good insight.

IMHO:You’re going to need a new loan.Your partner is going to owe capital gains if there is a gain.

A fix and flip means paying taxes on capital gains upon sale, where a renovate and rent means deferring those taxes. 

I've tried online lending companies like credible but they all give me interest rates above 10%.I am wondering if anyone has any advice or suggestions for paying off the $50k sooner rather than later to avoid paying double the loan...any insight is appreciated!

Namely, you must be able to show that all of the following are true:you are married and file a joint return for the yeareither you or your spouse meets the ownership testboth you and your spouse meet the use test, andduring the 2-year period ending on the date of the sale, neither you or your spouse excluded gain from the sale of another home.If either spouse does not satisfy all these requirements, the exclusion is figured separately for each spouse as if they were not married.

It contains more detailed information on investing insights, analytics, and, particularly, investing in Las Vegas.Before proceeding, note that the charts only include properties that fit the following criteria unless stated otherwise.Type: Single-familyConfiguration: 1,000 SF to 3,000 SF, 2+ bedrooms, 2+ baths, 2+ garages, minimum lot size is 3,000 SF, one or two stories.Price range: $320,000 to $475,000Location: All zip codes marked in green below have one or more of our client’s investment properties.Overall Las Vegas Real Estate Market InventoryThe chart below, provided by the MLS, includes all property types and price ranges.The inventory level continued its downward trajectory, significantly lower YoY.Rental Market TrendsThe charts below are only relevant to the property profile that we target.Rentals - Median $/SF by MonthRents started to rise after the holiday season.

THank you Cody for the insight.