I guess getting the cards may be a challenge if your credit is down, but you can check out some articles like this (https://wallethub.com/credit-cards/bad-credit-bala...) and see if you can find something to take the edge off. 

My challenge is when looking at their total net income, they are making about $6,800 net, but after deducting $2,200 rent, $3,200 total debt obligations and $100 utilities, they are left with only $1,300 per month to live with.

The HOA could challenge the validity of the TCB sale and you might not get a deed.

The downside to holding on to this property is it will need new windows and a new deck in the next 5 years and is on 3/4 acre lot so mowing and yard work are a challenge to have the tenants take care of.

Here goes...One of my biggest pet peeves in real estate is the CAP Rate.

It would be very challenging to purchase 5+ with 20% down but if you did FHA financing you could purchase up to 4 units for 3-10%. 3.

It appears the biggest savings will be on insurance and the ability to get a commercial loan.

real estate is anything but no work  yes limited to no physical work but to be able to live off of your investments takes time and frankly more seed capital. but the biggest bang for your buck with 100k is going to be using it as a downpayment and do fix and flip... but you need to be very cautious.depending on your market this could be one or two flips that would make 20 to 30k each and you could do two a year.not sure if 40 to 60k a year income would do it for you.. some it will some it wont.. rentals NO way no how not in todays markets..at least to start.you could do the BRRR pay cash and refi.. but yoiu need a job and great income to refi.. ?

If the biggest employer in town is Burger King then don’t buy there !

It is the economic hub after all. if the precises are challenging try Hamilton, Tauranga and Wellington.