Many people say, as an aspiring investor, to stay away from properties that have an HOA, as it would eat into the possible profits/cash flow that I could possible bring in.

Not everything is about making a profit, I'd just eat it on this one and know you did the right thing for a family that is struggling. 

Land is a high stakes game and the big fish eat the little fish.

I don't expect this anecdote to resonate with anyone who hasn't dealt with NoVA traffic or seen the Eastern panhandle of WV, but I'll eat the commute for less people and a nicer home.

With that in mind, the question is this: Should we buy our temporary owner occupied multi family (still buy and hold though) with cash (that’s a lot of eggs in one basket, but also not ALL of our eggs) OR use traditional financing to purchase with 20% down (and keep even more eggs in the already fullish egg basket)? 

As for listings- I have gotten a great big goose-egg having tried it twice.

I believe in helping the downtrodden and it’s my Christian duty but there’s a big difference when people take advantage of landlords .i firmly believe if a man won’t work he shouldn’t eat - won’t work - Not can’t work ! 

It is a three family building all units with 3 bedrooms, 1 bathroom, 1 eat in kitchen and a living room and I would say the units are approximately 1050 sq ft each. 

These two items can really eat into your returns. 

Make sure you acquire a little nest egg for repairs if they come up.