National dues could see a raise in the multiples, or come with a special assessment of an extra $500.

I'm brand new to investing (aka no experience, no doors) and have heard on multiple podcasts that short term arbitrage can be an effective way to get started.

From my understanding, if its passive income, just a room-by-room rental, it would go on your schedule E just like any other rental. if its active, like a short term rental situation or mid-term, something like an airbnb or bed and breakfast where you're actively including extras, it would be filed on a schedule C. disclaimer, im not a tax person, so double check this with your tax pro. when you go to qualify for your next purchase, whether that's for primary or inv., using a full-doc loan... if its schedule C, you would need to do a 2 year average of this income in order to use it. its looked at as a business, and self employment income. if its schedule E, theoretically you could use the schedule E income calculations just like any other rental even after the first filing.

It should be handled by your tax software or, better yet, by an accountant.You also have an option of paying the entire capital gain upfront, which is usually not to your advantage, however in some situations it could be.

HOA's and Condo associations are hard to deal with on multiple fronts, from tenant approval to tenants following the rules, it can be a difficult rental to manage.

Yes Derek yo are on the right track for sure I have bought multiple properties in the past using this method as a reason the owner should owner finance instead of bank financing. 

Beyond the fact you are new to the industry will be tying up your investment dollars for multiple years before you start to see any measurable ROI. 

Ideally, I would like a traditional duplex for a long-term buy and hold position.This will be our first home purchase so I want to make a solid decision.Duplexes are going very fast in my area with multiple sight unseen offers just hours after posting.

Next, the FTC is so overwhelmed with complaints they only focus on the very large companies getting multiple complaints.  

What can I do to maximize profits in this situation?