Lastly, the price point is still very cheap here in the sense that you can still find investment deals that hit the 1% rule for 120-180k!

However, finding these deals can be quite challenging if you are new to this market, as it varies street by street.

As it is right now, it is not a good deal for anyone. 

Appreciate detailed calculations and clarifications on if/how this is calculated different from a new deal.

You would have to buy that property (or a % of it) and then contribute it into a new LLC.Since you're buying the actual real estate as a tenant in common it does become a little easier to deal with the debt.   

Terms can vary based on the lender and the strength of the borrower or deal. 

Not so much in actual terms of the deal (although that can be intricate also) but for the effects on the seller and/or their portfolio.

I don’t know that there are certain buildings particularly and heavily populated areas that do not allow for Airbnb rentals but that’s completely different Love you deals directly with the homeowners Association of the property and not necessarily Airbnb or the state of Florida.

Often he was able to negotiate these deals.  

You can buy deals at at 15% down (if it's turnkey) or lower if you're using hard money (for a BRRRR-type scenario).