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.

@Richard SnyderThe first thing is to determine whether claiming the real estate professional designation will benefit you.If your rental tax losses are below $25,000 and you make less than $100,000, you may not benefit as you would be eligible to take the same losses regardless of the designation.If you do benefit from being a real estate professional, you have to note that there are a lot of rules/record keeping required to actually get the benefit.

After a couple of months if you want or need to sell you could possibly sell the note or just part of the note to recoup your investment. 

On a serious note, land within 30 minutes of San Antonio seems to sell well.

Either way, you will be asked to prove your recent graduation and then you will be able to be approved with either one month of paystubs on an FHA loan or even before you start working on conventional loans with proper documentation from your new employer.Please note the following paragraph is not lender dependant, they are the national guidelines so.

Other things to note: I'm looking to bid this for 340k from wholesaler.Cheers,Pradeep