Cap rates and cash flow seem to be good there, but i wanted to know if anyone with experience in that market knows whether there are solid property management firms in that area who can work with outside investors?

We lend 100% of the appraised value after the repairs are completed.I am totally excited about the prospects of this program.Good luck.

Maybe as  a next step you could see if a real estate company or property management firm could use you as a volunteer to learnt he ropes?  

However, looking right across the river, I saw many wonderful prospects in great old St.

(The one I like to use is part of a lawyer firm, and is fantastic at sorting legal issues out)

There is a large well known law firm in town that specializes in HOA issues if you get to that point.  

What I do is I present my binder to prospective sellers to show them exactly what I will be doing for them from Marketing and paid advetising, etc.....Good luck

A lot depends on carrying costs; in my area very few prospects venture out when there is snow or ice on the ground. 

They now consider that my partner has no cause for a hardship exception and, with the rental cap met, they are not entertaining requests to rent - the rental wait list is about 1 year.We are preparing an appeal to the members of the board since according to the declaration, the decision ultimately rest with them, but we are not optimistic about the prospects of them deciding this in our favor.

If you don't plan to do this you should, again IMHO, be VERY up front with the prospective seller that you have no intention of actually buying the house.