Their website says it is a separate transaction.

In my state the laws prohibit you from disclosing anything that may go against the seller unless you have a signed buyers agency agreement, otherwise we always represent the seller in the transaction.

If the investor has an end buyer than when the bank settles he is the transactional buyer so the only major outlay, for the investor, is the cost of the HOA  at auction. 

She asked they conduct the transaction through Trip Advisor via email and is awaiting his response.For those of you that have vacation rentals, how are reservations accomplished, how do you conduct your transactions, do you have paperwork? 

You can use it to evaluate the entire transaction, from buy to sell, and you can vary the holding period to compare return (hold for 5 years vs 20, for example).Many people assume buy-and-hold means a long period of time, but you don't have to hold indefinitely to maximize your return.The limitation of cap rate or COCR is that it looks at a one year period.

There are of course the rules and regulations of getting a broker license, off the top of my head I do not recall but I believe it's 2+ years experience and/or a certain number of transactions under your belt.  

Or is it just cash for keys / title type of transaction?

Being that this could potentially be a first deal, I would want to partner up with an expert who could walk me through the transaction and we could split the profit.

The 27K down would pretty easily get me another 2 or 3 plex, but that wouldn't count all the additional expenses from the transaction. 

Did the transaction even close?