This occurs when the HOA has inadequate reserves, the HOA fee is too high in relation to the income of the owners, or too high a percentage of owners are not occupying their units.I would definitely insist that the note being held by the seller be assumable, if the above is correct it may be your only way to sell.Additionally you will need to see if the seller owns the property free and clear, or is he wrapping an existing mortgage note within his new seller financed note?

On a related note, this is Section 8 - could a person lose their section 8 through harboring or associated with a felon?

Would love to hear some experiences from park owners or people in this space as it relates to the question posed here. 

@Brian Mitchell A few of the great books I read last year that would relate to real estate, investing, mindset, etc. are:Rich Dad, Poor DadNever Split the DifferenceThe Richest Man in BabylonThe One ThingHope this helps,

That said, most first time home-buyer programs are intended for owner occupants so be sure to read the terms and docs as they relate to your rental plans.

You've also stated that you want relatively-turnkey (that is how I interpret the phrase "I don't want to do any major remodeling work"). 

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Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

Properties that have monthly cash flow with only 20% down tend to be lower-income housing with lots of turnover and high maintenance costs relative to rent.Doing a flip:Pro: The market has cooled so it may be easier to find a fixer-upper.Con: You might be underestimating the time and money require to flip a house.

I have no relatives/friends in these areas.