I guess I need to make one more thing clear, I haven't purchased a home in over a dozen years so I am just trying to avoid what would essentially be a "rookie" mistake.

So then second, I began up studying flipping HUD homes (essentially virtual wholesaling) to accommodate for my time constraints.

There are a few problems with it... mainly that it is outdated - The home was built in 1930 and has no AC, windows are cracked and old, the light fixtures were barely there and the floors (hardwood and linoleum) were a mess.Now it's essential that I mention that this is an out of state purchase.

This bldg has essentially been in operation most of its 125 years.  

That's not the worst thing because you're essentially getting a loan from the US Treasury.  

@Dima DeSimone essentially what this means is that if your rental cap amendment passed with only 67% of the membership's vote (and not 90% which is commonly required to pass amendments related to "USE" of a condominium/community) then this case may enable associations to retract their amendments that were not passed by the proper number of votes.

Still not bad areas to buy in because essentially they are like secondary markets close in to DC. 

However committing to partially pay a monthly bill for someone (which is essentially what you would be doing) can come later when you have the means and can do it cheerfully and without worry.

Yeah, essentially that's my understanding of the situation, at least to the extent it's been explained to me.

100.000 given the 10% cap rate of that specific area.This essentially the same thing you said except that I don't agree that you need to have a closed deal to do that.