for most people the Federal long  term capital gains rate is 20%.If on the other hand you receive the property as a gift from parents, or anybody else, prior to their death, then your basis is the same basis as the giver. 

In our particular case, it is 80% of the households must vote to disband AND there has to be prior approval from FHA and the VA.

For whatever reason he was just looking for a quick sale and sold me the condo for what he paid for it 7 years prior.

As I stated before screen all your incoming mailer calls so you can listen and research each property prior to talking to the seller.  

So should i just make the owner an offer prior to this meeting and see if the owner will sign it? 

And you haven't lived in it for 2 out of the previous 5 years prior to sale so you don't qualify for the sec 121 exemption either.  

It is super common for the banks to say yah yah yah then you start and its like oh.. yah...I think the post prior to this one is referring you to a credit union - check those out and other local vested in their town banks.

Prior to end of their lease give notice to not renew.

A lot we sell prior to hitting the market so I can always keep it in mind if something matches for you.

Prior to the closing you will need a mortgage and note for the private lender.