The most common portfolio style loan in Texas is a 20 year adjustable rate loan.

The condo is part of a HOA and the HOA requires that all potential tenants go through a background screening before the Board of Directors are able to approve or deny them.Is this common?

Additionally, Chase bank tends to agree with me as they had absolutely no problem qualifying me for another mortgage, but Chase doesn't want to finance anything that has dry rot (which any discounted property will have) due to it being a health issue.

When I do quiet title actions in California, it's pretty common that there are people or entities that are no longer in existence, so we're not able to serve them with the lawsuit. 

Would love feedback on whether I am in the ball park on the loan possibilities:Details on the building:-15,000 SF sing-use commercial building; current value $800K; well-maintained-25 payments remaining on current loan ($160K payoff)-Tenant is a profitable retail franchise; Landlord and Tenant have common ownership.

These are some of the most common ways that I see people source off market properties. 

Josiah - I took a look at your analysis and you might want to consider: expenses for common utilities (i.e. sewer, electric) if there are any, "re-leasing" fees from the management company (I would anticipate 1 or the 4 units needing to be released each year), and then overall maintenance each year - not sure I saw a number for that, but I would think 8-10% is a good start.

No one can buy with a conventional loan, doesn't meet health and safety codes.

If your strategy is going to be buy and hold BRRRR’s…in this case a HELOC may be appropriate because you can just draw what you need and only pay interest on what you draw instead of the whole pot (and HELOC’s typically are interest-only during the draw period, commonly 10 years).

The VA loan is structured to protect you- the property cannot have any health or safety code violations.