What the point of giving the title to HOA foreclosure winners and then later take it away (assuming the banks are expected not to negotiate with new title holder of the property)?

Consider how that might effect the future sale of a property.The real estate agent or broker who is helping you buy a multi-family property should understand the pros and cons and help guide you through the process of where your money is best spent regarding washers/dryers.

That is the jist, i would like to add to the responses above that even in the future if you qualify for real estate professional status, those losses cannot offset active income since in the year you generated the losses you were not real estate pro.

I assume Lawrence is pretty similar to most KC suburbs in regard to client pool, appreciation, expected cash flow etc.

So to manage expectations I'd say you should expect to be patient to find the right deal.

What affect will that have on your ability to qualify for future properties? 

You can't expect to get a good deal and have an inspector walk through, give you a punch list, then get a bunch of contractors out there to give you estimates.

I understand it has the possibility to change yearly but I didn’t expect it to almost double what the mortgage is on the property.

As a first time buyer you should be expected to know all the regulations.

I know of one who actually closes on them, but expect a higher rate.