My first step will be to draft a business plan to define my goals and objectives as I learn more about the industry and how I might jump in.Rich Dad Poor Dad was my spark.

NARPM is an organization that sets the bar for many of the industry standards.

Until you own the whole building, you still need an organization that is doing what the association does - collecting money from the other owners, doing maintenance to the exterior, and planning ahead for long term costs. 

You need to provide more details for the answer to be more objective.

And as noted above, the objective is not to get your hands on the property when you buy a non performing note, it's about trying to help the person (or family) stay in their home or apartment.

Depends on your objective you need to know what is legal and what will get you into trouble in investment and have the means($).

Hopefully you're tracking all the business expenses and organizing it for a CPA.

It all just happened organically to solve a problem...

As far as I remember, that didn't really seem to raise any objections, but I figured it was better to tell them up front.

While this strategy may take longer to grow a mass amount of wealth it will also be a bit more organic as I like having majority if not all of the house paid off rather then have a bunch of loans.