if it's not this model, then pick a different model that you deem more applicable.  

We (HOA) recently got an application of an investor who would like to purchase two units that were for sale, cash.

Most if not all the principles that they would have learned are still, and probably always will be, applicable.

It's a great service, and probably the best free option out there to get an actual phone number you can forward to any phone, or multiple phones at once, including calls through Gmail and the Hangouts extensions/applications.

While, it is wise and  prudent to learn everything you can that is applicable to the type of work you want to do, it is also necessary to set a goal of when you want to take action.

I read Benjamin Graham' (Warren Buffet's mentor) book, The Intelligent Investor, and it's amazing how the principles are applicable to anything including real estate. 

The problem is that the Navy FCU has denied the application due to my partner not meeting the desirable credit score of 650+.  

Things here in Boston can take a long time and I am looking at a process that could go anywhere from 30 days to 9 months depending on the inspector / board approves the initial application otherwise I would have to appeal.I am getting nervous on whether to move fwd with this deal or not.

This amount mainly covers the lender's application and underwriting fees.  

"According to BBVA Compass, the subject property must either be located in a low-to-moderate income census tract (as determined by the Federal Financial Institutions Examination Council) or the loan applicants cannot have an income greater than 80% of the median income for the area, per the guidelines"http://www.housingwire.com/articles/33120-bbva-compass-launches-zero-percent-down-mortgage-programSounds great for those who invested in low income housing areas don't think Los Angeles would have areas your friend would want to live in