In addition, if you get a home inspection, typically that is another point in the transaction where you can use the results to negotiate for repairs or a lower price.

That typically only occurs after the tax sale process fails and the lien(s) must be abated in order to transfer to a new owner.

Most people renovating typically don't even interact with board members when renovating, you should be speaking with the management company about all this. 

@Ibrahim Alanqar Typically you won't be able to get a traditional loan from a bank.

Just keep in mind that an appraiser typically can't count basement sqf and thus spending a lot of money downstairs might up your incoming rent, but might not add value if you refi. 

These typically move a little more slowly.

Typically the less cash you have in the deal the higher IRR but that also is not always the smartest business model as if you over leverage and their is a market correction or if your cash flow is reduced you are very limited with your options

In addition to time a property manager will typically charge 1 months rent to fill a unit. 

We typically do one year leases with the option to renew at the end of the lease.

Matthew Ray hard money lenders are typically used for purchase/rehab and then refinance.