The city forced the association to take immediate action.

In large part because most home loans are fixed, the raising of interest rates has resulted in less properties being listed than a price decline corresponding to the cost increase associated with the new rates. 

@Nick Littleton you can also look into Washington Landlord Association. 

Well, the condo association will handle it and bill people according to their ownership share.)

Finally, it is important to consult a local attorney who can advise me on the legal aspects of purchasing such property and answer any questions I may have in regards to potential liabilities associated with owning it.

Your returns can be easily destroyed by HOA fees and you have little to no control over them.Does the condo association have any restrictions on rental units? 

Also, another benefit of a DSCR loan is that the lender won't consider any debt you have which can often be a problem for trying to qualify for a loan as debt to income (DTI) ratio is capped (usually at around 50%) so all debts including the property associated payments have to be less than half of your income.

Moreover, think about the cost associated with higher quality finishes (i.e.

Decided to move to Tampa Florida to really dive into the real estate business as a real estate sales associate, specializing in distressed properties. 

I imagine a contract between you and the owner that outlines the responsibilities of each party and the fees associated with the service he is providing would be sufficient.