Here is what I think needs to happen: 1) Obtain HOA approval and amend by-laws to gain official ownership.

Also, the quality of the property will directly affect the amount of rent you can obtain. 

His realtor mentioned this cheap 5 acre property that he needed to sell for a woman who obtained it when her brother passed away.

Years ago when my wife was getting her education she was presented with a choice to further her education and obtain her doctorate or settle for a masters .She knew it would mean many more years of school (12 years altogether) and well over 100,000$ more in student debt on top of what was already owed .

With regards to non-performing institutional notes, I get asked weekly by various folks to provide them with my sellers and avenues for obtaining tapes.

For example, there is a value added multi family sponsor that I love (multiple real estate cycle experience without any investor money lost, conservative 65% leverage, long term holds with fixed rate long term debt, 1031 pipeline to defer taxes indefinitely, etc.)

Also, a timeline is especially important if you decide to stop contributing to your Roth as you wouldn't want to stop retirement contributions indefinitely.

Of course, you also don't want applicants to start running out and obtaining therapy animal certifications from their doctor either.

Should I obtain my real estate license?

We typically obtain most of our properties at auction and leave enough “juice” to make it a win win for everyone.