You could theoretically use that low interest rate to your advantage and even owner financing the place to a retail buyer given your low interest and even sell off the note if you need cash now as opposed to refinancing at a higher rate but I would personally use a HELOC.

The mortgage notes itself is a form of protection as there is little to collect if no equity. 

Thanks James, I’ll jot your information in my notes.

On a side note, if you ever want to talk shop on out of state investing, I'd be happy to hop on a call with you. 

I am listening to BP podcasts every moment I can, reading, taking notes and processing the new information.

This occurs when the HOA has inadequate reserves, the HOA fee is too high in relation to the income of the owners, or too high a percentage of owners are not occupying their units.I would definitely insist that the note being held by the seller be assumable, if the above is correct it may be your only way to sell.Additionally you will need to see if the seller owns the property free and clear, or is he wrapping an existing mortgage note within his new seller financed note?

What does the local laws say about trespassing..... but on a side note how you are going to enforce this?

I was able to structure different deals using notes and the title company to complete the paperwork. 

Notes and traditional buy and hold have less turnover and work.  

On the back end of a 15 yr note at 2.875% with $900 principle going toward a $1,135 note.