It does sound like if you're not able or willing to have a fully self financed cash transaction, you would probably qualify for a decent traditional loan product that would keep you on the legal side of things- which is ideal for beginning your REI journey! 

If I as a new investor brought an off market deal and presented it to an investor(s), did all of the work to get the transaction closed (I’m an agent!)

This is how HOA comes into the game of this transaction.2) The existing HOA document has 80+ pages and is a scanned version (so not text searchable), I don't have time to read all 80+ pages and site down with an attorney to modify item by item to what I need.

I'm going to be using my license primarily for my own transactions, so my primary objective is to find a broker with a favorable commission structure to the agent and a good reputation.

But if there are other cousins and nephews and nieces, I revert to not illegal just scummy…

Make sure it's legal or else the city decides to crack down on the illegal short term rentals you will be screwed..

That's the value of the business component of the sale.In larger companies (roughly $10M+) , there is a different method called EBITDA - earnings before interest, taxes, depreciation and amortization.To that SDE value, we add the value of assets (vehicles, machinery, etc) and real estate, if any is to transact. 

Or is this illegal?

The extra house is a bonus though if it’s illegal would not give it true market value and let them sell it to me as a multi when it’s not.

They cannot provide any tenant background or credit reports as it is illegal to share that info with another party.