I speak to a few newish out-of-state investors every week that are hesitant to ender our market because they can't find that 1% deal.

You'd have to speak to whoever is the operating principal at the brokerage.

I’m looking at purchasing a vacation rental and was speaking with my lender about using hard money to purchase the home then refinancing into a vacation home loan.

In which case I would speak with an attorney.Bottom line, whatever they decide it should be crystal clear going in to both parties.

The fact that you don't know how to submit an offer, speaks volumes. 

Yes, you should speak with someone on the HOA Board to verify this.

@Benjamin Tarantur, @Lucia Rushton, @Bruce Lynn, @Wale Lawal - Speaking generally, I wish Realtors understood more about seller financing.

I’m speaking as someone who owned a lake front cabin in MN for 20 years that I didn’t spend 20 days in after moving out of state.

If it will be solely an investment property I would speak to a local bank or credit union not a big chain bank about your financing options they have both loans they keep in house (portfolio lender) and the government backed ones you mentioned.

I can't speak for all banks or loans.