That being said, there a are a lot of great programs out there to finance investment property if you have decent credit and enough down, you should be able to finance a property that will cash-flow reasonably well. 

Hi Eric, I'll leave the accounting question to the accountant.

I have nothing against me, no criminal record, good credit, job, income, savings, single male, no kids... could the HOA decline my highest offer the property to whoever they choose? 

I have good credit and a stable income, but not a lot of savings.

Did you pay with a credit card?

I tried to flip homes and invest into real estate with out any money but I obviously had zero money or credit; i was a broke college kid haha. 

With lower credit score myself because I did not do credit much it is hard for a bank to see if they want to take me on.

@Danielle TranI am a loud critic of transferring properties to LLC’s when it is residential, but for commercial properties I do recommend those be held in a LLC.I would speak to you accountant and an attorney in regards to understanding the tax consequences as well as the attorney regarding liability of the commercial property.

You just need to run all the numbers, and also take into account any Passive Activity Losses (PAL).Make sure you use a Qualified Intermediary (QI) for the transaction. 

Heck, I'm a degreed accountant and the sum total of my undergraduate education on 1031 exchanges was one-half of one class period.