I’m definitely going to do more homework on specialized lenders.

Then Michael Blank SDA course so you can underwrite deal and understand the numbers as you have to do your homework.

Hey all, New to BP, love the money show and will listen to the REI one on occasion too.My wife and I have just paid off our New primary Residence (In cash) and are fixing up our first home for sale.As we are 31 with a paid off home that is big enough to support us long term so with that firm footing we are going to start investing in real estate to supplement and eventually replace our incomes and the way will do it is thus;-Save a 20% deposit- roughly 80k (the cost of housing here is high but the maths works well enough)-use all tenant income and a good chunk of our working income towards paying down the mortgage aggressively.

The math works out in favor of Condos and HOA almost every time.

You alluded to this, but you did the math wrong.Using your numbers of a $100k loan at 15% interest rate, the monthly interest payment would be $1,250 (not $833.33).

If that’s the case then see where the math and numbers take you as you compare both options.

Hoping to purchase a property next spring/summer so really just in my homework phase

You'll need to do you homework here and identify what's important to youAny checklist we have to keep: not sure what you mean here...

Make sure to do your homework and have an attorney review the PPM and offering details. 

You still have to do your homework on each contractor though.