I love the priority check-in/boarding, free seat upgrades, free companion passes, and airport lounge access.

You may get lucky and find an "occupied" property vacant.If not, you'll get your best results offering cash for keys for a property delivered vacant in broom clean condition on a date certain.If you need to evict you may save some money vs. cash for keys but that definitely does not mean it's the better strategy financially.

Education is the key here.Let me know if I can help you with anything else.Good luck!

As @Todd Dexheimer mentioned educating yourself is key.

My agent is really key  one big way, she hasn't brought me a deal yet with less than 70k profit.

My first step would be to hire a really good attorney and pay him to comb through the bylaws, board minutes, financials, etc.

As far as vetting a contractor , check licenses , ask for insurance , workmans comp , check your state judiciary for lawsuits , check the licensing board . 

A key difference with section 506 investments concerns the products themselves: they are not regulated by the SEC and Investment Company Act of 1940 which governs stocks and mutual funds.  

With that being said, do you guys think it's a good idea to purchase a Turn-Key multi-family property for well over the asking price, with the intentions to house-hack and also use the property as a rental income stream for the next several years ?     

Luckily the GF is very on board and will be heading with me to our local REIA soon!