I'd like to reach my passive income goals here in the states first before making the leap.

However, it’s important to proceed with caution and consult with a real estate attorney to understand the potential risks.2.

Hopefully, that every corner you try to cut to save money - has potential negative repercussions!

ChatGPT: Write rap lyrics about using a wraparound mortgage in a profitable deal.Got the seller financed, wrapped the old loan,New buyer in place, and the cash is grown,Interest spread wide, I'm collecting the flow,Passive income stream, watch my portfolio grow.Wraparound mortgage, making money stack,Flipping properties quick, never looking back,Profit in my pocket, strategy on track,Real estate mogul, and that's a fact.Analyze the numbers, every move precise,Minimize the risk, maximize the price,Equity's the goal, profit's on the rise,Wraparound mortgage, got me reaching for the skies.From the first payment made to the final note,Wraparound secured, watch the market float,Negotiation skills, deals in the bag,Success in my grasp, wave the victory flag.

The biggest thing that sticks out to me is, if the property is in good enough shape to qualify for a conventional mortgage, there is a larger pool of potential buyer, so there may not need to be enough spread between purchase and ARV.

Thanks for the Insight/ advice/ potential piviots to make deal better? 

You could potentially shore up the loan by adding additional collateral (even if it's in 2nd position behind bank loans) but it's still pretty risky when you aren't knowledgeable about this type of project.

Also, great tip to study the rent with a microscope to determine the actual potential!!

As a newbie, if you do get into an appreciation play, you can look a little bit more short-term down the road and recognize that you can likely refinance your property once interest rates drop and actually see some cash-flow once you reach a lower payment.  

Hello BP Community, Hope you're all well, I am reaching out on behalf of a property owner who is seeking a reliable, experienced, and licensed HOA manager for her property located in Miami Springs, 28-unit condo.