Can check the docs but if its a townhome typically HOA does not cover anything on the property iteself.3. 1-2 months?

@Henry Hsieh typical penny-wise, dollar-foolish approach.Investors make more money finding deals than they do pinching pennies doing DIY management.Or, is your time not worth much?

I'd go with the second option. 

There are many options available still, but 2-4 unit properties are easier to stabilize and obtain financing for right now. 

There are so many software options and most seem pretty automated.

For example, CA property typically cash flow min $200/mo or barely breakeven after paying PITI, but appreciation is like $4K-$6K per month For typical 600k house, appreciation rate is 5.8% per annual.

Nonrecourse loans usually require 30-50% downpayment, but are good if you need extra funding for a deal.Another option for funding would be a joint venture.

I like the sound of option 2 but the risk profile of option 1.

The most lucrative option Ohio Cashflow offered me was to use their real estate agent.

For example, I like to buy in Class A neighborhoods and I've found that wholesalers typically don't have much in those neighborhoods.