Make sure they actually have it under contract, There are lots of these operators that have no financial interest and are brokering real estate without a license.3.

it seems like their would be too many variables involved in a condotel to try any actually predict cashflow.....probably not a good idea as an investment in my opinion

In my market typically property management is about 5% ( I actually manage a couple properties now) - with that said should I factor in about half that for other costs?  

That is actually a route I am very interested in taking, which I why I stopped when I saw the Quad in the first place. 

I just discovered that you can actually do a lot of homework way ahead of the sale so I don't have time to do any of it today.  

A "lender approved short-sale price" is when the lender agrees to a price to sell the home for an amount less then what is actually owed by the seller.

Lastly, when looking at potential investment as a new investor, I would keep it simple and create a budget based on actual cost instead of hypotheticals.  

In the same senario, a seller finance deal, should/can I have someone (I'm not sure who actually does this, please let me know) come and inspect the property before I agree to purchase?

I've made several posts in the past where I was looking and making attempts to purchase my first property that fell through due to issues found during inspections or not being able to come to terms I was happy with...The last one I found actually worked out and I closed on it a month ago.

I have actually passed my real estate license exam out here and look forward to becoming a successful agent.